Hoàng Chuẩn, director of Hoàng Phú Manufacturing Co., Ltd. and his cashew nut roasting machine. Photos giaoducthoidai.vn

HÀ NỘI — Contrary to the common belief that start-ups are only for the young, some have been founded by people over the age of 60, who still exude agility, vitality and persistence in their work.

According to experts, in the next 10 years, millions of elderly people will have the need to start businesses, provide vocational training and seek new employment opportunities.

At the age of over 60, Hoàng Chuẩn, director of Hoàng Phú Manufacturing Co., Ltd., remains committed to producing firewood-roasted cashew nuts.

With the advantage of raw materials sourced from Lộc Ninh, Bình Phước Province, home to the S’Tiêng and Khmer ethnic groups, the company has chosen its own path, focusing on producing high-quality, delicious and nutritious cashew nuts.

Chuẩn only purchases native cashews from local farmers, refusing to import raw cashews from anywhere else.

To ensure a stable, high-quality supply of raw materials, Chuẩn signed agreements with cashew-growing farmers, contributing to job creation and stable income for the local population.

“In recent years, many businesses have grown by importing raw cashews, processing them, and re-exporting," he said.

"But Hoàng Phú has remained steadfast in its approach and never used imported cashews. When Bình Phước cashews become scarce for many years around the Lunar New Year, we’ve chosen to halt production rather than use foreign materials."

He added that cashews imported from other countries, when roasted, lack the fragrant aroma and rich taste of Bình Phước cashews.

“Consumers are very sensitive. Just one experience of a different taste can make it hard to win them back. That’s why businesses must always respect consumers and protect their reputation,” he said.

Nguyễn Văn Khỏe and his mosquito trap device.

Inventor Nguyễn Văn Khỏe from Đồng Nai Province, who holds four patents, has also returned to the start-up community with plans to launch a company specialising in mosquito trap devices.

He said old age often associates with experience, which isn’t necessarily helpful in business operations. After many years in the start-up world, the difficulties he encountered were no fewer than those faced by younger entrepreneurs.

“I no longer place importance on personal gains or financial goals. I now want to contribute more to the community and society,” he told Giáo dục & Thời đại (Education & Times) newspaper.

After releasing a prototype of the mosquito trap before the 2025 Lunar New Year, he improved the product's design and decided to commercialise it after April 30.

“The previous prototype didn’t include a dark zone to attract mosquitoes. After customer feedback, I improved the commercial version by adding a funnel that better creates a dark space to lure them in,” he said.

Đinh Doãn Phi Hải, director of POLARIS Medical Equipment Co., Ltd. in HCM City is a rare entrepreneur who started a new business venture at nearly 70 years old.

He was once known as the underwear king, owning a brand that outperformed many competitors.

However, as new local and international brands emerged and invested heavily in advertising, they gradually dominated the market.

Facing losses, he left the garment industry.

Later, he was diagnosed with stomach cancer. Alongside medical treatment, he improved his health through physical exercise and cycling.

After experiencing knee pain from cycling, the idea of creating a knee brace came to him. With his life savings, he threw himself into starting over.

After researching the market, he found that most products were imported.

Chinese-made products were cheap, while those from Japan, South Korea, and other Asian countries were expensive.

He diligently searched online for technical specifications.

His first products – knee and back braces – were launched.

Dissatisfied with early results, he invested billions in automatic sewing machines and laser cutters, ignoring warnings from others to improve product quality.

Today, his products can be found in pharmacies nationwide and are well received.

Silvere economy

Start-up stories of individuals aged 60–70 like Hoàng Chuẩn, Nguyễn Văn Khỏe and Doãn Phi Hải not only inspire the young but also highlight the enormous potential of the 'silver economy'.

To encourage elderly entrepreneurship, Deputy Prime Minister Lê Thành Long signed Decision 379/QĐ-TTg, approving the plan on the elderly participation in promoting digital transformation, green transition, entrepreneurship and job creation.

The plan outlines the development of models in which elderly individuals engage in digital transformation in production, management and community development.

It also supports models for green transition in labour and environmental protection and encourages households to grow trees and protect the environment.

According to the plan, by 2030, 90 per cent of elderly people, officials and elderly association members will be educated on digital transformation, green transition, entrepreneurship and job creation.

50 per cent of the elderly will become proficient in basic digital skills, such as accessing online public services, online shopping and payments, online safety and using digital platforms tailored to local contexts.

By 2035, the goal is for 100 per cent of elderly individuals and association members to be aware of and educated on these themes, with 70 per cent proficient in digital skills.

Under this decision, various ministries and sectors are expected to coordinate and support elderly entrepreneurship.

According to the National Statistics Office, by 2035, Việt Nam will officially enter an aging population phase, with more than 21 million elderly people, accounting for nearly 20 per cent of the total population.

Experts believe that within the next decade, millions of elderly will seek entrepreneurship, vocational training and new jobs.

If properly leveraged, the elderly can become an important labour force contributing to economic growth. VNS