Dang Xuan Van, a member of the Committee of the Vietnam Youth Federation of Phu Nhuan District and Director of Felix Zone Co., Ltd., said that young people starting a business must face fierce competition, the lack of experience and capital. Therefore, HCMC needs to strengthen the organization of training programs, startup coaching and business operations activities, startup funds, and startup incubators to support young people to start their businesses.
Vo Thuy Duong from the Vietnam Youth Federation of District 12 stated that young people want to start a business but they are not bold and brave enough to pursue a career and approach preferential loans. So, leaders of the departments and centers need to create a connection network and favorable conditions for the youth to learn about successful economic models at home and abroad. The industry and trade sector should provide support programs for the startup ecosystem for youth. Universities and colleges should organize training programs for startups.
Many young people lack collateral, making it difficult for them to secure loans from financial institutions. The city needs to have specific mechanisms and preferential loan packages with interest rate reductions to support young people, Le Thi Tuong Vy, Deputy Director of the Business Start-Up Support Center, added.
Chairman of HCMC People's Committee Phan Van Mai requested the city’s Youth Federation gather opinions from participants and bring them into implementation plans and resolutions.
He stressed that innovative and creative startups is one of the important sectors of the city. HCMC is ready to provide capital for helping young people start a business, even if they urgently need a capital of VND200-300 billion. However, it needs to design an implementation framework, the city’s chairman said.
The Chairman of the HCMC People's Committee emphasized that startups should not follow trends. Young people must have knowledge, direction, and entrepreneurial skills. Additionally, he has delegated relevant agencies and departments to provide training sessions to equip young people with entrepreneurial skills.
He informed that the construction of the HCMC Innovation and Startups Center is expected to be completed at the end of this year. The center is being built on an area of nearly 2,6000 square meters with a total floor area of 17,000 square meters at No.123 on Truong Dinh Street in Vo Thi Sau Ward, District 3.
The HCMC Innovation and Startups Center must be the most vibrant hub for startup activities and serve as a center connecting other startup hubs in the city and localities nationwide and linking businesses and universities. It must also be a center for international cooperation and startups in the city. Its activities must represent the nation's innovation and startup activities in the southern economic hub and have the capability of global competitiveness and integration.
