Gender equality is not merely a social issue but a core economic lever, empowering women-owned businesses to thrive in global supply chains.
This key message was highlighted at the seminar 'Enhancing Business Competitiveness: From Gender Equality Advancement to Gender-Responsive Procurement Practicing,' organized on November 25 by the Vietnam Women Entrepreneurs Council (under VCCI) and UN Women.
In her opening remarks, Ms. Mai Thi Dieu Huyen, Vice President in charge of the Vietnam Women Entrepreneurs Council (VCCI), stated that over nearly 40 years of reform, Vietnam's private economic sector has become a crucial growth driver, contributing approximately 45% of GDP, 33% of the state budget, and accounting for 97% of total enterprises. Within this landscape, women-owned businesses make up 24%, playing an increasingly important role in agriculture, consumer goods, services, and innovation.
However, most of these enterprises face barriers such as small scale, difficulty accessing finance, limited market connections, and few opportunities to participate in large supply chains. Ms. Alice Hawkins, Second Secretary at the Australian Embassy in Thailand, also noted that women face unique challenges to growth, sometimes due to capacity issues, and sometimes due to a lack of access to comprehensive business networks, business development services, financial products, and markets.
According to Ms. Nguyen Thi Bich Thuy, from the Ministry of Finance's Department of Private Enterprise Development and Collective Economy, as of October 2025, Vietnam has over 1 million active enterprises, with more than 20% being women-owned and over 50% having female participation in ownership structures. The number of women-owned businesses has continuously increased over the years, with a growth rate of at least 2% per year, higher than the average growth rate of the business sector. Vietnam is also one of the markets with a developing female entrepreneur team and the most effective female business network in the ASEAN region.
Ms. Thuy also agreed that women-owned businesses face four main barriers: limitations in scale and network connections; barriers in accessing finance; limitations in management skills and innovation; and the burden of social roles and gender stereotypes.
In this context, the Women's Empowerment Principles (WEPs) and Gender-Responsive Procurement (GRP) initiatives by UN Women are becoming a global trend, helping businesses enhance sustainable competitiveness, expand markets, attract responsible investors, and create positive social impacts. WEPs and GRP serve as a "compass" to help businesses overcome barriers and enhance sustainable competitiveness.
WEPs provide a consistent roadmap, helping businesses integrate gender equality into leadership roles, work environments, markets, and communities. Meanwhile, GRP complements by directing the purchasing power of both the public and private sectors, expanding opportunities for businesses with comprehensive performance.
Ms. Mai Thi Dieu Huyen emphasized, "Promoting gender equality is essential for businesses to raise competitive standards in the new phase. When businesses create equal opportunities and practice GRP, they are opening doors to larger, more professional, and sustainable supply chains."
The application of WEPs and GRP becomes even more important as global buyers, investors, and new-generation Free Trade Agreements (FTAs) require businesses to strictly adhere to standards of transparency, inclusiveness, and sustainability (ESG principles).
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