The social business model is one of the measures and initiatives thatcan help Vietnam deal with challenges in economic recovery andrestructuring and maintaining sustainable development, a Vietnameseofficial has said.
Speaking at a conference torelease the report of research on “Social businesses in Vietnam –Definition, Context and Policy” in Hanoi on May 15, Deputy Ministerof Planning and Investment Dang Huy Dong appraised efforts of relevantparties which have engaged in the research for the first time.
The conference was organised by the British Council (BC), the Centrefor Economic Management and the Centre for Social Initiatives Promotion(CSIP).
BC Director in Vietnam Robin Rickard sharedexperience in connecting social businesses in the UK , whichpioneered the model.
The UK is home to 55,000social businesses which earn nearly 27 billion pounds and contribute 8.4billion pounds to the country’s GDP annually. A total of 475,000workers and 300,000 volunteers or 5 percent of workers in the businesssector are employed in social enterprises.
Accordingto the report, social business is a new concept in Vietnam , althoughthe country has about 200 organisations which are considered to beoperating in the form of social businesses.
Since itsinception, social business has placed social goals and missions as thetop priority, used business activities based on market principles toreach goals and allocated most of their profits for social benefits.
Regarding the development of social businesses in Vietnam , thereport says Vietnamese social enterprises are able to put forwardcreative social solutions.
It cites To he (children’stoy) company which was established in 2009 and Centres for Energy inLife, based in Hanoi and the central city of Nghe An, as brightexamples of this social model.
The report also analysed and proposed measures to build mechanisms and policies to develop social businesses in Vietnam .
Vietnam should pay attention to the social effectiveness and impact of social businesses, the report said.-VNA
Speaking at a conference torelease the report of research on “Social businesses in Vietnam –Definition, Context and Policy” in Hanoi on May 15, Deputy Ministerof Planning and Investment Dang Huy Dong appraised efforts of relevantparties which have engaged in the research for the first time.
The conference was organised by the British Council (BC), the Centrefor Economic Management and the Centre for Social Initiatives Promotion(CSIP).
BC Director in Vietnam Robin Rickard sharedexperience in connecting social businesses in the UK , whichpioneered the model.
The UK is home to 55,000social businesses which earn nearly 27 billion pounds and contribute 8.4billion pounds to the country’s GDP annually. A total of 475,000workers and 300,000 volunteers or 5 percent of workers in the businesssector are employed in social enterprises.
Accordingto the report, social business is a new concept in Vietnam , althoughthe country has about 200 organisations which are considered to beoperating in the form of social businesses.
Since itsinception, social business has placed social goals and missions as thetop priority, used business activities based on market principles toreach goals and allocated most of their profits for social benefits.
Regarding the development of social businesses in Vietnam , thereport says Vietnamese social enterprises are able to put forwardcreative social solutions.
It cites To he (children’stoy) company which was established in 2009 and Centres for Energy inLife, based in Hanoi and the central city of Nghe An, as brightexamples of this social model.
The report also analysed and proposed measures to build mechanisms and policies to develop social businesses in Vietnam .
Vietnam should pay attention to the social effectiveness and impact of social businesses, the report said.-VNA
