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Official Gazette

Tuesday, June 6, 2023

Government supports women’s start-ups: Deputy PM

Updated: 09:46’ - 03/01/2017
The Government looks forward to receiving feedback on revaluation of economic institutions and stimulating start-ups, especially those by women or in agriculture, said Deputy Prime Minister Vuong Dinh Hue.

         Deputy PM Vuong Dinh Hue addresses the forum__Photo: Internet

Addressing the national forum entitled “Women’s economic empowerment in agribusiness to promote gender equality” in Hanoi on December 26, Deputy PM Hue highlighted a project “Supporting female business start-up in the 2017-2027 period” of the Vietnam Women’s Union under which over 110,000 firms were founded in 2016 and the number of firms resuming their business operation increased by 43 percent over the last year.

Hue said the Government had submitted to the National Assembly a draft law on support for small- and medium-sized enterprises under which SME support programs will be formulated to support micro-enterprises that encounter difficulties in accessing capital, credit facilities, labor and other input elements without the State’s support.

The Government would support start-up and innovative businesses that were eager for scientific and technological advances and information technology application and promote the development of a start-up ecosystem, he said, adding that the Government would encourage business households to be transformed into companies.

According to the Deputy PM, in addition to existing public relation consultancy, vocational training and human resources development assistance, the Government will issue two resolutions on creation of capital sources for enterprises. For start-up and innovative businesses, the Government will develop venture investment funds and formulate mechanisms to promote venture investment. For SMEs, the Government will provide for bank guarantee for all of their loans (from the current 75 percent of their loans) in order to effectively support fund-lacking enterprises that have effective business plans.

Hue said the Government would revise existing economic regulations in order to attractive more investment in agriculture and rural economy toward facilitating land accumulation, land planning and stabilization of the business environment.

He suggested the Women’s Union further create favorable conditions for women’s business start-ups and agricultural production.-(VLLF)

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