National study launched on youth entrepreneurship in Vietnam
06 Dec, 2024
Youth Co:Lab Vietnam – an initiative co-created by the United Nations Development Programme (UNDP) and Citi Foundation - and the University of Economics Ho Chi Minh City (UEH) launched the National Study on the State of the Ecosystem for Youth Entrepreneurship in Vietnam on December 5.
The National Study on the State of the Ecosystem for Youth Entrepreneurship in Vietnam is launched in Ho Chi Minh City on December 5. (Photo: VNA)
HCM City (VNA) – Youth Co:Lab Vietnam – an initiative co-created by the United Nations Development Programme (UNDP) and Citi Foundation - and the University of Economics Ho Chi Minh City (UEH) launched the National Study on the State of the Ecosystem for Youth Entrepreneurship in Vietnam on December 5.
To develop this study, particularly its recommendations, the research team conducted nearly 20 focus group discussions, interviews, and consultation workshops in Hanoi and Ho Chi Minh City with representatives from various ecosystem stakeholders.
The team also gathered insights through a survey involving 210 respondents aged 16–35 across the country, employing a mixed-method approach combining quantitative and qualitative analysis.
The study recommends engaging relevant stakeholders in the policymaking process for the youth entrepreneurship ecosystem. It emphasises the need for Vietnam to enhance collaboration in policy development and implementation to avoid regulatory overlaps, streamline administrative procedures, and create youth-friendly policies to ease challenges for young entrepreneurs.
According to Vuong Khiet, a member of the research team, mobilising resources and developing financial support mechanisms are crucial to establish dedicated financial funds that are accessible to young entrepreneurs with limited credit history. Commercial banks and financial intermediaries should design flexible loan products tailored to this group of borrowers.
At the event, several experts highlighted the country's significant opportunities for development, saying that young entrepreneurs and startup-driven youth contribute substantially to the diverse landscape of Vietnam's startup ecosystem. This group has become a key driver of sustainable development and innovation.
Despite encouraging outcomes, youth entrepreneurship activities still face significant challenges, such as the lack of comprehensive, in-depth, and nationally-oriented research on the youth entrepreneurship ecosystem. Against this backdrop, the National Study on the State of the Ecosystem for Youth Entrepreneurship in Vietnam stands as the first of its kind, offering a multidimensional view of youth entrepreneurial activities and their ecosystem. It aims to provide policy evaluations and practical support recommendations for Vietnamese youth.
Co-created in 2017 by the UNDP and the Citi Foundation, Youth Co:Lab aims to establish a common agenda for Asia-Pacific countries to invest in and empower youth to accelerate implementation of the Sustainable Development Goals (SDGs) through leadership, social innovation, and entrepreneurship.
Source: VietNamplus
