Prime Minister Pham Minh Chinh has asked ministries, sectors, and localities to continue to create favorable conditions, environments, and legal foundations for young people to develop startups.

Addressing the fifth National Startup Festival for students in Hue, in central Thua Thien-Hue province, on March 25, the Prime Minister emphasized the need to review, amend, and supplement mechanisms and policies to encourage and protect young people during the startup and innovation process.

It is also necessary to give them assistance in capital, infrastructure, human resources, and tax policies, and associate startups in schools with the settlement of current issues, as well as promote the growth of incubators and startup support centers for students, he said.

The government leader also urged them to support startup and innovation activities and strengthen the commercialization of products from young people.

After nearly five years of implementation, the project to support student startups to 2025 has attracted nearly 2,600 projects and more than 4,000 ideas and projects in the field of vocational training.

Vietnam has attracted more than 60 venture funds, while over 3,000 startups have been launched successfully and nearly 100 universities have included startups into their curricula. At the same time, 98 incubators have been set up in schools.