According to the Ministry of Planning and Investment, the number of newly registered businesses in the first 10 months of this year reached 100,000. Experts have acknowledged that besides efforts to improve business climate, timely support for the startup movement has also contributed to the positive outcome.

Despite being newly established, this enterprise has achieved remarkable successes from its initial idea of designing home-made beansprouts equipment.

Thanks to supporting policies for startups, enterprises like this have been helped to pursue their initiatives to make market debut

Statistics on business registration in the first 10 months of this year showed the number of newly registered businesses reached more than 100,000, nearly equal to the total number of 2016.

According to experts, the startup movement has spurred many business activities in Vietnam

According to Phan Duc Hieu, Deputy Director of Central Institute for Economic Management, instead of striving for a seat at a public agency, there are more young people who want to affirm themselves by starting their own businesses.

Besides, the business environment in Vietnam has been improved significantly by policies introduced by the State, government, ministries, and sectors as well as brighter outlook from both domestic and international markets.

Tran Thi Hong Minh, Director of Agency of Business Registration said "The implementation of the Law on investment and the law on businesses as well as efforts of ministries and sectors have helped to generate the figure."

"Thriving in the world market has helped enterprises take the initiative in starting their own businesses", said Phan Duc Hieu​, Deputy Director of Central Institute for Economic Management.

Recently, ministries and sectors have introduced reforms in business and  investment conditions, including exempting several business conditions. The move is expected to create more favourable conditions for people and enterprises to start businesses, helping to boost the country’s economy.-VNA