Start-ups should prepare necessary resources for success: forum
Start-ups should grasp market trends and make solid preparations in terms of planning and resources to ensure their future success, said participants at the Vietnam Young Leaders Forum in Ho Chi Minh City on December 14.
Hoang Quoc Quyen, CEO of Vinfast Service, (centre, right) speaks at the Vietnam Young Leaders Forum in Ho Chi Minh City on December 14. (Photo: VNA)
HCM City (VNA) - Start-ups should grasp market trends and make solid preparations in terms of planningand resources to ensure their future success, said participants at the Vietnam Young Leaders Forum in Ho ChiMinh City on December 14.
Nguyen Ba Diep, Vice Chairmanof MoMo, a leading mobile payment company, said next year would see “manychanges in the digital services market, especially in fintech, with many newmodels emerging.”
Vietnam’s fintech marketwas still young, and the market would gradually develop when there are manystart-ups, he said.
Technology had brought big changes to many sectors including education andtraining and finance, he added.
“Start-ups must alwaysinnovate to stay afloat in the market because your successful models today canbe imitated by other start-ups, so you need to be innovative and creative tocome up with new models.”
Quyen said start-upsusually developed products and services for customers in big cities like Hanoi andHCM City. This should change and they should focus more on exploiting marketsin provinces and rural areas.
Delegates also emphasised the need for start-ups to collaboratewith large firms during the development process.
The two should worktogether to leverage their strengths and develop together, they said.
Hoang Quoc Quyen, CEO ofVinfast Service, said start-ups often hesitated to reach out to large companiesand wanted them to be “more active in contacting leaders of ‘elephants’.”
Organised by the Business Start-up Support Centre (BSSC) in collaboration withthe Young Businesspeople Association of HCM City, the forum, themed “Start-up2019: What’s Next?,” attracted over 500 delegates, including company chiefs anduniversity students.
The forum aimed to create opportunities for young leaders to learn fromsuccessful Vietnamese start-ups. This would inspire entrepreneurship and apositive mindset in the younger generations.-VNA
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Hoang Quoc Quyen, CEO of Vinfast Service, (centre, right) speaks at the Vietnam Young Leaders Forum in Ho Chi Minh City on December 14. (Photo: VNA)
