Youth start-up programme approved

July 30, 2022 - 08:37
Deputy Prime Minister Vũ Đức Đam has just approved the programme "Youth Startup Support 2022 - 2030" to assist young entrepreneurs.


A rabbit farm established by young entrepreneurs. — VNA/VNS Photo Thái Hùng

HÀ NỘI — Deputy Prime Minister Vũ Đức Đam has just approved the programme "Youth Startup Support 2022 - 2030" to assist young entrepreneurs.

The programme's support mechanisms includes training foundation knowledge for young people on starting and developing businesses; access to capital sources and building and developing channels to support the distribution and consumption of youth start-up products.

The goal of Phase 1 from 2022 to 2025 is to support at least 8,000 young people to start a business, including 1,000 young people to start new and innovative businesses. Moreover, the project aims to have 100,000 young people equipped with knowledge and training to improve their capacity in entrepreneurship and business administration.

The programme also sets goals such as: At least 80,000 youth-owned businesses be consulted and supported in business development; the establishment of 200 youth-owned cooperatives; maintaining at least 200 communes that implement the One Commune One Product (OCOP) Programme and have products by young entrepreneurs that meet OCOP standards each year.

The solutions proposed by the programme are to support young people to start and develop businesses; searching, screening and consolidating potential start-up ideas; support to improve business and start-up capacity for young people; supporting young start-ups in accessing capital, domestic and foreign investors.

At the same time, the programme also aims to build and develop channels to support the distribution and consumption of start-up products by young people; providing legal advice to young people starting a business; support linkage and development of start-up business networks. 

Training in basic knowledge for young people on starting a business and developing businesses is focused on, with knowledge on production management, human resource management, marketing, quality management, and supply chain management.

At the same time, the programme also organises training courses on financial management, accounting, tax, guidance on management and use of capital for small and micro enterprises, for young start-ups; introduce, consult, and connect young people with business ideas and start-ups to visit typical factories and enterprises in each field and industry.

Young entrepreneurs will receive intensive training and fostering for young start-ups with knowledge of digital transformation, the application of digital technology in business administration, product production, service provision, transportation, advertising, promoting and consuming products and other content in the process of production and business.

The programme will support young people to access capital sources and provide financial support through preferential programmes and policies for young start-ups and start-up businesses of the Government as well as building idea exchange mechanisms to connect young people with investment funds.

At the same time, young entrepreneurs will have access to capital for production from businesses owned by union members, members and youth through loans from the National Employment Fund funded by the Youth Union, managed by Local People's Committees and mobilised by the Social Policy Bank.

Capital will be collected from localities, organisations and individuals at home and abroad to provide loans to support job creation, maintenance and expansion of employment and other resources. — VNS