The Party and State always protect the rights and legitimate interests of young entrepreneurs and create conditions for them to develop, Prime Minister Pham Minh Chinh has said.

Addressing a ceremony in Hanoi on November 27 to mark 30 years of the young Vietnamese entrepreneurs’ movement, the Prime Minister stressed that all entrepreneurs, including young ones, make substantial contributions to the country’s achievements.

He called on businesses and young entrepreneurs to continue maximizing their youth to take the lead in reforming the growth model, innovation, science and technology application, digital transformation, and green transition.

The government will work on developing a strong Vietnamese business community that has high competitiveness, deeply engage in global value chains, and is resilient to external shocks, he said, adding that it will focus on making three strategic breakthroughs in terms of institutions, infrastructure, and human resources.

The Vietnam Young Entrepreneurs Association (VYEA) now has nearly 19,000 members nationwide. These member businesses earn more than $40 billion in annual revenue, contribute over 10 per cent to national GDP, and employ over 5 million people.