Cultivating The Spirit Of Entrepreneurship
Entrepreneurship in Vietnam is increasingly on the up – especially amongst the young. We explore how encouraging youth entrepreneurship can help drive the Vietnamese economy.
Inspiring entrepreneurship among today’s youth is becoming increasingly important, and many countries have made it a vital part of their growth agenda. For example, Vietnam’s Law on Support for Small- and Medium-sized Enterprises provides special support to small- and medium-sized enterprises (SMEs), start-ups, and innovative ventures so that they have equal access to important resources such as funding, land, and investments. The objective is to cultivate an ecosystem that encourages entrepreneurship.
Cultivating a spirit of entrepreneurship is at the heart of our continued support of the FedEx Express Junior Achievement International Trade Challenge (ITC). In this annual competition student create international market entry strategies with a product and target market that changes every year. Launched by FedEx and Junior Achievement in 2007, 20,000 young entrepreneurs have now participated in the competition across the Asia Pacific region. This includes more than 350 students from 31 schools in Vietnam. In 2018 a student from Hanoi won the regional ITC championship held in Singapore.
Initiatives like the ITC continue to develop students’ knowledge, provides training and drives their entrepreneurial creativity. Giving them a venue to experiment with business ideas and develop a plan to realize these ideas, not only gives inspiration, but enables them to explore new ideas and careers.
Cultivating the spirit of entrepreneurship among today’s youth presents a wealth of benefits not only for the young, but also for their local communities. Through entrepreneurship, their potential business can deliver positive changes including the creation of jobs and other income-generating opportunities in their community.
For more insights on youth entrepreneurship, including the annual FedEx Express/ Junior Achievement International Trade Challenge in APAC, stay connected with us on LinkedIn.