News Details

"Effects" from Obama's visit to Vietnam starting a business

06.06.2016

US President Barack Obama recently had a dialogue with the community young entrepreneurs start a business (startup) Vietnam in Dreamplex. Obama confirmed through collaborative programs and investments, the US will contribute financial support, education, skills, network connection ... for Vietnamese business community, especially young entrepreneurs starting a business . Earlier, the government had also approved a resolution to support entrepreneurship.

About startups evaluate events bring many expectations for this community. But to entrepreneurship to life requires multiple solutions together with system startup as easily, have good tax policy, infrastructure ... from the Government.

1. Self mobilization is key

Nguyen Dinh Nam Young Entrepreneurs, General Director of the Company VP9, who once petitioned the Government to turn Vietnam into the regional Internet hub. To propose that the South part stems from difficulties encountered, barriers to starting a business ... and create company VP9 - a business with the purpose of commercialization of basic scientific work research on compression data. Show VP9 is creating products that South called "all things Internet".

Tell us about the start-up segments, Nam said the first start-up capital contribution to the company, but this is very difficult. "The law allows businesses to contribute capital in intellectual property. But the authorities do not recognize intellectual property, the idea is for fear of difficult capital tax collection. Intellectual capital has not been considered when starting a business is a huge barrier "- Southern comment.

In addition, the Internet is an area which is used in pretty much start-existing but too many sublicenses. For example want to set up sites also must be permitted under the control of money thinking post-inspection rather in the manner of other nations. "In thousands of websites, of course, will have a good website but not thinking like" a pain pill the whole village started "spawned many sub-license and legal barriers to entrepreneurship" - Nam said.

Want loans to start a business is not easy. Men cited his company was filing for loans from the Fund National Technology Innovation (FIRST) for three years but has not yet ratified the profile. While starting a business can not wait three years so. "Many young people travel startups or established companies overseas sheath also due to barriers on" - South conclusions.

 

2. "Effects" from Obama's visit to Vietnam starting a business 

Many start-up companies also encounter similar barriers. Nguyen Thuy Uyen such methods, founder of School of Foreign lock Tomato - model-depth curricular school children in Vietnam - the favorable opinions when starting a business in our country's economy is growing, there are many opportunities to start a business with little capital even.

However, difficulty in starting a business in Vietnam is to mobilize ourselves, not the state agencies, the association supports. Not only that, also satisfy more complex administrative procedures. "Our unit itself choosing new educational model, when registration will be extremely difficult profession, finally been put in other educational sectors for unknown nec. So the startups to independent start-up community to exchange and mutual assistance "- she Uyen Phuong shared.

3. Positive signals

The Government has approved the project "Supporting entrepreneurship ecosystem national innovation 2025". Content including many notable building focused entrepreneurship support services innovation; encourage the use of funds to agencies contributed the capital to start a business enterprise; research, issued a new proposal, amending and supplementing the necessary legal instruments to promote entrepreneurship environment ...

Who had comments on this proposal, the General Director Nguyen Dinh Nam Company VP9 think it is a positive signal. However, the implementation of this program how to bring real efficiency to a new start-up community is important. "Community startups quick awaiting the realization of the State's support on" - South express their aspirations.

Talking to City Legal on this issue, Mr. Dang Huy Dong, Deputy Minister of Planning and Investment, said to support start-up companies to overcome difficulties and develop their potential, the Government has recently many policies. Especially, in the Bill Supporting small and medium-sized enterprises, MPI proposed incentive policies, investment incentives venturing into startups. Which focuses on the key as the simplification of investment procedures, tax incentives ...

"The goal of these measures is to improve the capacity for startup businesses. And create a favorable environment for start-up companies focused on developing products that can reach more easily flows in the private sector to develop faster, efficient and sustainable "- he stressed East .

4. Connect startup ecosystem

Space entrepreneur Dreamplex - where the meeting took place between President Obama to start a business community - formed in order to create an innovative work space, open to connect the youth entrepreneurship in Vietnam as well as the country.

Mr. Nguyen Trung Tin, General Director Trung Thuy Group Corporation, said founder Dreamplex event President Obama met with pretty much the startup has left his mark on the community and entrepreneurship. Mr. Tin said: "The Vietnamese are very good at creating innovations designed as farmers have been airplanes, submarines, tractors ... Therefore, Dreamplex want to become a place to encourage innovative start-up to the standard turning ideas into reality. "

5. Complicated procedure

Entrepreneurship ecosystem abroad quite full, especially the US. For example, if you have any questions about taxation, company establishment procedures, access to capital ... will be the management bodies explained, detailed instructions, full and quick procedure.

Meanwhile, in Vietnam, startups have on your own, try to find funding, customer self-identify and meet more complex administrative procedures.