According to the Ministry of Planning and Investment, between January and October, the number of newly registered businesses reached 100,000.  Experts have acknowledged that besides efforts to improve business climate, timely support policies for the startup movement have also contributed to the positive outcome.

According to experts, the startup movement has spurred many business activities in Viet Nam.

According to Mr Phan Duc Hieu, the Deputy Director of Central Institute for Economic Management, instead of striving for a seat at a public agency, there are more young people who want to affirm themselves by starting their own businesses.

“Thriving in the world market has helped enterprises take the initiative to start their own businesses”, said Mr Hieu.

Besides, the business environment in Viet Nam has been improved significantly by policies introduced by the State, government, ministries, and sectors as well as brighter outlook from both domestic and international markets.

Ms Tran Thi Hong Minh, the Director of Agency of Business Registration said, “The implementation of the laws on Investment and Businesses as well as great efforts made by ministries and government agencies have helped to generate the figure."

Over recent years, ministries and government agencies have introduced reforms in business and investment conditions, including exempting several business conditions. The move is expected to create more favourable conditions for people and enterprises to start businesses, thereby helping to boost the country’s economy.

(Source: VNA)