At a forum in Hanoi on Sunday, Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung stressed the need to create stable jobs for young people. He said breakthroughs in vocational training will be made next year: “Vocational training is important to creating breakthroughs in human resource development. The General Department of Vocation Training is collecting opinions on developing a project to improve vocational training, increase the number of vocational trainees, and generate more high-paying jobs.”

The Youth Union’s Fund for Young Talent has provided capital, technical assistance, breeds and seedlings to help young people start a business.   

Over the past years, the Fund for Young Talent of the Vinh Phuc Provincial Youth Union has helped more than 100 startups, 40 cooperatives and more than 600 young farm owners creating thousands of jobs. Hoang Anh is with the Vinh Phuc Provincial Fund for Young Talent: “We have set up a Startup Fund and encourage young people to share their startup ideas and help one another. Since 2006, we have provided loans of 350,000 USD to support 1,000 business models of young businessmen. Young people also receive support from social beneficiary banks.”

The startup movement is spreading nationwide. Support for young startups is stipulated in the Law on Support for Small and Medium Sized Enterprises. Deputy Minister of Planning and Investment Nguyen The Phuong said: “The government has encouraged the establishment of consulting networks to help young people start a business. Small and medium sized enterprises enjoy reduction of or exemption from consulting costs. The Ministry of Planning and Investment has submitted to the government a decree to guide the implementation of the Law on Support for SMEs.”