Private sector vital to fuel economy: PM

The second Vietnam Private Sector Forum (VPSF), chaired by Prime Minister Nguyen Xuan Phuc, is scheduled to be held on July 31 at Melia Hanoi. The first Vietnam Private Sector Forum in 2016 With the theme “From the Party Central Committee's Resolution 5 to the Action Programme of the Private Sector in Vietnam,” the forum will focus on discussions and dialogue between the government and the private sector in three key areas: agriculture, tourism, and the digital economy. Besides, trade facilitation, which is considered essential to the development of economic sectors, will be an important topic for discussion. In the framework of the forum, the signing ceremony of a memorandum of understanding (MoU) between the Vietnam Young Entrepreneurs’ Association (VYEA) and the Mekong Business Initiative (MBI) will be held to co-operate to develop the forum in the upcoming years. After the forum, the organisation board will publish VPSF’s White Book in August. This year the forum will welcome 1,000 delegates, representing the government, ministries, departments, leaders of cities and provinces, international organisations, and business associations, as well as economic experts and numerous CEOs from Vietnamese and foreign enterprises. VPSF is an initiative of VYEA and MBI, funded by the Asian Development Bank (ADB) and the Australian Government. The forum is considered a bridge between the government, public authorities, and the private sector for continuous and close consultation on public and private…... [read more]

The 2nd National Congress of the 2005-2008 Association of Vietnam Young Entrepreneurs opened in Hanoi on Friday. The congress drew the participation of more than 500 outstanding representatives of different industries and sectors across the country, and young entrepreneurs working abroad. In the 2002-2005 term, the association achieved positive records in implementing five action plans - technology renewal, international economic integration, building youth programmes, volunteering to help young people set up businesses, and volunteering for community life. A number of major activities, including the Sao Do (Red Star) Awards, Sao Vang Dat Viet (Gold Star of Vietnam) Awards and Lightening Young Talents, have been held during the past three years and have proved to be effective in assisting young entrepreneurs and affirming the role of the association.To date, the association has 51 business clubs with more than 4,000 members. Under the motto "Businesses unite, invent, integrate and develop to build a strong Vietnam", the congress discussed measures to effectively implement action plans. The focus was on five programmes - improving international competitiveness and building trademarks for Vietnamese enterprises; building business prestige; young Vietnamese entrepreneurs join hands for development; young Vietnamese entrepreneurs work together for community development, and developing youth movements in each enterprise and building partnership. The same day, the association presented Red Star Award prizes to the 10 best outstanding young entrepreneurs of the year. The organisation board will also present the 2005 Young Entrepreneur Golden Cup to nine enterprises, which were short-listed for the 2005 Red Star Awards.Also…... [read more]

The agreement was made at a meeting between President of the Vietnam Youth Association Nong Quoc Tuan and visiting Chairman of the Children, Youth and Sports Affairs Committee of the Bulgarian National Assembly Ivanov Spassov in Hanoi on June 13. Mr Spassov expressed his wish to learn about Vietnam’s Law on Young People as Bulgaria is compiling a similar law. He took special interest in the organization and operation of the Vietnam Young Entrepreneurs Association. While in Vietnam from June 11-17, the Bulgarian delegation was received by Vice Chairman of the Vietnam National Assembly Nguyen Phuc Thanh and Permanent Deputy Prime Minister Nguyen Sinh Hung. They also held working sessions with the NA Committee for Culture, Education, Youth and Children; the National Sports and Physical Training Committee; and the Family, Population and Children Committee. The delegation will then tour the northern coastal province of Quang Ninh, the central province of Thua Thien-Hue and HCM City.... [read more]

Mr Thanh said that Vietnam can learn a lot from Bulgaria as the two countries share similarities in national development and integration. Mr Spassov, who is also Vice President of the Bulgaria-Vietnam Friendship Parliamentarians Group, said the bilateral political relationship should be further developed and economic ties should be increased. Bulgaria attaches importance to promoting its ties with Vietnam, said the Bulgarian guest, adding that the two countries should facilitate the exchange of their youths in an effort to foster mutual understanding. At another reception for the delegation of the Bulgarian NA’s Children, Youth and Sports Affairs Committee the same day, Permanent Deputy Prime Minister Nguyen Sinh Hung said that Vietnam and Bulgaria have huge potentials for cooperation development in various fields in order to bring bilateral ties to a new height. Through Vietnam, Bulgaria can expand its markets in Southeast Asia and Bulgaria can help Vietnam penetrate deeper into the European market, said Deputy PM Hung. Also on June 12, the Bulgarian delegation held talks with the Vietnamese NA’s Committee for Culture, Education, Youth and Children. They also held working sessions with the Physical Training and Sports Committee and the Family, Population and Children Committee of Vietnam. While in Vietnam from June 11-17, the Bulgarian delegation expects to work with the leaders of the Vietnam Youth Union and the Vietnam Young Entrepreneurs Association and tour northern Quang Ninh province, central Thua Thien-Hue province and HCM City.... [read more]

The talk was co-organised by the Government Office, the Vietnam Youth Union and the central committee of the Vietnam Young Entrepreneurs’ Association. Deputy Prime Minister, Nguyen Sinh Hung, highlighted efforts made by enterprises, especially young entrepreneurs, in controlling inflation and economic slowdown. Mr Hung emphasized that the government’s solutions are aimed at preventing the further decline, maintaining sustainable economic growth and ensuring social security, affirming that enterprises and the government should join hands to overcome difficulties. He also urged enterprises to fully tap into their strengths to boost production, stabilise the domestic market, penetrate the international market and use the government’s stimulus package effectively. Vice Chairman of the Vietnam Young Entrepreneurs’ Association, Nguyen Manh Cuong, also briefed participants on difficulties recently faced by enterprises and devised orientations for the future. Representatives from enterprises posed many questions to the government and relevant ministries, focusing on issues relating to policies on interest rates, export activities, administrative formalities and the business environment.... [read more]

The programme, which has been operating for three months, was co-organised by the Vietnam Young Entrepreneurs Association, TOPICA E-learning Programme, and the Thanh Giong Intellectual Gateway. Addressing the ceremony, Nguyen Hoang Hiep, Secretary of the Ho Chi Minh Communist Youth Union said that the programme has attracted nearly 5,000 young students who are gaining experience from the 1,000 entrepreneurs. Notably, Deputy Prime Minister Nguyen Thien Nhan will be an honoured guest and provide students with online lessons under the programme. Pham Nhu Quynh, President of the Management Board of the Ha Long Investment and Trade Development Joint Stock Company, who was also honoured at the event, said that the programme is of great importance as it helps students to gain experience from entrepreneurs to map out opportunities and create their own business in future.... [read more]

200 leading Vietnamese brands representing 25 commodity groups were nominated for the Vietnam Gold Star Award. Among the top ten Vietnamese brands for 2011 are leading enterprises such as FPT, Truong Hai Automobile Company, Viet Tien Garment Joint Stock Company, Trung Nguyen Coffee, and Vietinbank. Ten enterprises that have made significant contributions to social development will also be honoured this year. Nguyen Manh Cuong, deputy president of the Vietnam Young Entrepreneurs Association said that, in addition to applying science and technology, integrating internationally, and investing abroad, nominated businesses should be working towards a knowledged-based economy, improving their social responsibility and paying attention to workers' rights and interests as well as the environment and the community. The Vietnam Gold Star awards ceremony will be held on October 15 by the Vietnam Young Entrepreneurs Association Central Committee. A variety of activities will also be held in Hanoi to mark the Vietnam Entrepreneurs' Week starting on October 10. They include the fourth ASEAN-China Young Entrepreneurs' Forum, a Vietnamese trade fair on international integration and a seminar on financial solutions for Vietnamese businesses in times of crisis.... [read more]

They met General Director of Phu Thai Group Joint Stock Company, Pham Dinh Doan, Chairman of the Trung Nguyen Management Board, Dang Le Nguyen Vu, and General Director of Eurowindow, Nguyen Canh Hong. After sharing their difficulties and lessons on the way to success, entrepreneurs said they are all committed to helping young generation to advance their careers as they are future masters of the country. Le Van Hieu, Vice Chairman of the Vietnam Young Entrepreneurs Association underscored the key to success in business, that is to discover new trends, provide new services and combine these two factors for long-term business. On the occasion, the Vietnam Young Entrepreneurs’ Association granted 25 scholarships to poor students from the National Economics University, the University of Business and Technology, the University of Economics, Technology and Industry, the University of Science and Technology, the University of Transportation and excellent students from the northern mountainous province of Dien Bien.... [read more]

The event draws the participation of former Deputy Prime Minister Vu Khoan, Vice President of the Vietnam Young Entrepreneurs Association (VYEA) Cao Hoai Duong and CEOs of some companies. They shared with young people opportunities and challenges after the ASEAN Economic Community is formed in 2015. Vietnam will have opportunities to access a large market of 600 million people, modern technologies, diversified capital sources and different forms of doing business. So the young Vietnamese should be fully prepared for the process of integration. The speakers suggested ways for young Vietnamese to successfully build their career and do business after the establishment of AEC.... [read more]

Prime Minister Nguyen Xuan Phuc has backed a credit support package of VND50 trillion ($2.2 billion) to develop the country’s agriculture sector. The package would provide support to high-tech agriculture and feature favorable lending mechanisms, the PM told the Building Vietnam’s Agriculture and Industry conference held by the Vietnam Young Entrepreneurs’ Association (DAA) in Ho Chi Minh City on December 18. He said his ambition is to build a modern agriculture sector that puts Vietnam among the group of leading agricultural countries. “Vietnam targets to become a center in the supply of high-tech agricultural products and have an important position in global value chains,” he said. “The State Bank of Vietnam should provide a credit package worth from VND50 trillion ($2.2 billion) to VND60 trillion ($2.6 billion) with favorable lending procedures,” he went on. “Several commercial banks should also take part in the initiative to improve credit quality and prevent malfeasance.” He also suggested Vietnam establish technical barriers under WTO regulations to protect domestic goods. He called for more support for producers of materials serving agriculture, improvements to the operation of cooperatives, and encouragement to self-employed individuals in rural areas to shift business models. Mr. Truong Gia Binh, Chairman of the FPT Group and the DAA, called for the development of high-tech agricultural complexes. “This will contribute to changes in agriculture from low added-value and growth into an outstanding sector,” he said. According to figures from the Ministry of Agriculture and Rural Development, export turnover in the agricultural, forestry and…... [read more]