As many as 86 young Vietnamese entrepreneurs with outstanding startup results were honored at a ceremony held in Hanoi on August 9.

Enterprises run by these entrepreneurs generated a combined revenue of VND2.5 trillion (over $99 million), and contributed VND51.6 billion ($2 million) to the State budget last year.

Addressing the ceremony, Vice Chairman of the National Assembly Nguyen Duc Hai said the Party and State always pay attention to, encourage and create conditions for young entrepreneurs to implement their startups and innovations.

He urged them to continue promoting innovation, improve competitiveness and enhance the ability to adapt to the rapid changes of the market.

The annual program, starting from 2015, has so far honored 643 young Vietnamese entrepreneurs in recognition of their outstanding performance.