More support policies needed to boost startups, innovation
More support policies needed to boost startups, innovation: VCCI President
Vietnamese startups needs more support institutions and policies to reach their goals, said President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc on December 2.
President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc (Photo: enternews.vn)
Hanoi (VNA) – Vietnamese startups needs more support institutionsand policies to reach their goals, said President of the Vietnam Chamber ofCommerce and Industry (VCCI) Vu Tien Loc on December 2.
Speaking at the 4th national startup forum in Hanoi, Loc stressedthat the Government has accelerated the implementation of various policies andmechanisms to encourage startups and innovation in the context of the FourthIndustrial Revolution.
According to the Global Entrepreneurship Network (GEN), among 60 surveyedcountries and territories, Vietnam is one of the top nations with a strongpreference for entrepreneurial settings. However, when it comes to its abilityto realise startup initiatives, the country is placed in the bottom 20.
“There is a yawning gap between businesses’ aspirations and their achievements,”Loc stressed.
Head of the VCCI’s legal department Dau Anh Tuan said the country is now home tosome 800,000 businesses and 5 million business households, so it is necessaryto create conditions for households to switch their operations to act as enterprisesto promote the startup spirit.
To this end, they should receive support in market participation procedures,capital access and application of information technology, he recommended,adding that competent authorities should work to enhance transparency andcomplete a legal framework.
Meanwhile, Tran Chi Dung, a monitoring and results measurement officer at theSwiss Entrepreneurship Programme, said Vietnam has many policies for startupsbut businesses still find it hard to achieve success as they do not spend timestudying these policies before implementing their business plans./.
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President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc (Photo: enternews.vn) 
