Experts: Renovation needed for successful start-ups

Thursday, 11:54, 17/11/2016

If Vietnam promotes renovation and flexibility, the country will be able to realise its start-up goals, an economic expert has said.

Le Hai Binh, Vice Chairman of the Vietnam E-Commerce Association, delivered the remark at a start-up forum in Ho Chi Minh City on November 16, which was held as part of activities in response to the ongoing “Global Entrepreneurship Week”.

Experts, representatives from businesses, and start-up entrepreneurs discussed the start-up ecosystem, service provision for start-up activities, start-up trends in Vietnam and the world. They also shared successful business models.

According to Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vo Tan Thanh, the Party and State treasure the role played by entrepreneurs and consider the private sector as a vital for the country’s development.

Vietnam is home to about 600,000 enterprises and over 4 million household-scale business establishments.

The country is set to have 1 million enterprises by 2020, with the private economic sector expected to contribute 45% of the GDP.

VCCI - the 13th partner of the Global Entrepreneurship Network - is working hard to help Vietnamese start-ups, Thanh said.

Jessica Hilston, a US start-up expert, stressed the importance of selecting partners for start-ups, saying that this is essential for their success.
Enterprises need to cherish start-up initiatives and outline strategic orientations, she said.

VNA

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