(VOVworld) – Vietnam has initiated a number of programs to help young people start businesses. These programs encourage creativity and independence in doing business.

A youth start-up support program was launched by Ho Chi Minh city’s Youth Union, Youth Federation, Students’ Association, and Young Entrepreneurs’ Association last week. With a 5 million USD fund, the program helps young entrepreneurs incubate ideas and provides them with legal advice and consultations on how to establish and develop a business. Two projects: “Smart queuing at hospitals” and “E-tickets” received 5,000 USD each in funding at the launch of the program. Doan Thien Phuc, Director of the Setech Viet company and author of the “E-tickets” project, said: “This program motivates young entrepreneurs like me. I hope there will be more start-up support programs and HCM city will be a real start-up city in the future.”

HCM city’s Youth Union has been designing a national start-up support program, which will be submitted to the government for consideration. A number of other provinces have followed suit. Le Quoc Phong, Secretary of the Ho Chi Minh Youth Union and President of the Vietnam Students’ Association, said: “We’ll try to provide young people and students with updates on market developments, labor demand, and business requirements. This will help them learn the skills they lack and give them job opportunities now that the ASEAN Community has been established.”

Vietnam’s joining of a number of free trade agreements, including the TPP, creates opportunities and challenges for Vietnam’s economy and labor force. In response, the Ho Chi Minh Youth Union and the Vietnam Students’ Association are developing a number of skills and occupational training programs for young people.