Vietnamese representatives talk on the sidelines of the 2017 APEC Women and the Economy Forum in Hue city in late September (Photo: VNA) Hanoi (VNA) – Vietnamese women, renowned for extremely entrepreneurial andhard working spirit, have made their mark on the country's intensive andextensive economic integration, and earned both domestic and internationalrecognition.
Impressive rankings
According to the Vietnam Chamber of Commerce and Industry (VCCI), the rate ofwomen-owned businesses in Vietnam is the highest in Asia-Pacific, atapproximately 25 percent.
This rate is even higher according to the Mastercard Index of Women Entrepreneurs2017 which was released in April at 31.4 percent, putting Vietnam seventhamong the 54 markets surveyed in terms of female business ownership.
Vietnam, with a score of 65, ranks 19th among the 54 markets inthe Mastercard Index. It and the Philippines (eighth place) were theonly lower middle income economies in the top 20. Fifteen others are high incomeeconomies and three are upper middle income ones.
“This is impressive and Vietnam should congratulate itself forthese rankings,” World Bank Country Director for Vietnam Ousmane Dionesaid. “Nevertheless, there is always room for improvement and to further moveup the rankings by creating a conducive environment to foster womenentrepreneurs.”
“Vietnamese women are extremely entrepreneurial and hard working. They contributesignificantly to household income, and by and large they are supported by theirhusbands and families. Vietnam has been growing at six percent plus over thepast few years and this is indicative of the contributions of women to businessand the economy,” he added.
Tu Thu Hien, founder and Director of the Women’s Initiative for Startups andEntrepreneurship (WISE), said: “Many women-owned businesses have beensuccessful, grown strongly and stretched their reach to the world such asVietjet Air, TH True Milk and Vinamilk. These firms are all run by verytalented women and have gained successes at the international scale, not onlyin Vietnam.”
“Women-owned enterprises play a huge role, greatly contributing to the economy,society and their employees,” Hien noted.
Multiple recognitions
At the 2017 APEC Women and the Economy Forum, held in Hue city in late September,two Vietnamese women won prizes in the APEC Business Efficiency and SuccessTarget Awards.
Hoang Minh Nhat, founder of the Minh Nhat bread chain, was recognized in the category of “highest growth potential” and General Director of the Chau Thong Co. Ltd Nguyen Thi My Lien received the special prize.
Hoang Minh Nhat (second, right), founder of the Minh Nhat bread chain, was recognised in the category of “highest growth potential” of the APEC Business Efficiency and Success Target Awards in late September (Photo: VNA) There are 20 Minh Nhat bread brand shops in Hanoi and Ho Chi Minh City. Thewinner of the Masterchef Vietnam 2014 said she started her company in 2014 andnow employs 300 people. She plans to increase the number of shops to 100 in thenext two years in other parts of Vietnam.
Meanwhile, Lien began a company dealing in wood products in the central city ofDa Nang three years ago. Chau Thong earns about 10 billion VND (440,000 USD) inrevenue each year.
Seven Vietnamese businesswomen were also recognised as outstanding ASEAN womenentrepreneurs in 2016. They included Do Vu Phuong Anh – Deputy General Directorof Doji Gold and Gems Group, Nguyen Bich Hoa – General Director of the MinhKhai Trading Joint Stock Company, Thai Huong – Chairwoman of the Board ofDirectors at TH Group, Pham Thi Huan – Chairwoman of the Board of Director atBa Huan Co. Ltd, Nguyen Thi Thanh Huyen – General Director of Garment 10Corporation, Le Hong Thuy Tien – General Director of Imex Pan Pacific Co. Ltd,and Ninh Thi Ty – Chairwoman of the Board of Directors at Ho Guom Garment JointStock Company.
Earlier this year, Forbes Vietnam named the 50 most influential women of thecountry in 2017, with 20 women entrepreneurs on the list.
Chu Thi Thanh Ha, Chairwoman of FPT Telecom, was one of them. Her company hasset up nearly 200 transaction offices in 59 provinces and cities nationwidewhile owning several branches in Cambodia and Myanmar.
Meanwhile, General Director of Vietjet Air Nguyen Thi Phuong Thao has helpedthis budget airline expand its wings across Vietnam and to more than 30destinations in Asia.
Another entrepreneur in the Forbes list was Mai Kieu Lien, who has turned theVietnam Dairy Products Joint Stock Company (Vinamilk) into a leading dairyproducer that now owns 10 farms and 13 factories in Vietnam, along with threeplants in the US, New Zealand and Cambodia, and a subsidiary in Poland.
Role models for the next generation
Regarding the growing presence of Vietnam’s women-led businesses in foreignmarkets, WB Country Director Dione said: “This is very inspiring and I thinkthis is testament to the potential of Vietnamese women entrepreneurs and theirpositive contributions to the country’s economy. I also think that manyVietnamese women entrepreneurs can serve as role models for the nextgeneration of younger women entrepreneurs.”
He added: “Further Regional Integration and ASEAN providesubstantial growth opportunities and access to larger markets and valuechains that can continue to provide growth opportunities for women led businessesin Vietnam. It is imperative though that the government also recognise thispotential and ease some of the constraints facing women entrepreneurs.”
Echoing this view, Alicia Robb, founder and CEO of Next Wave Ventures, toldVietnam News Agency that: “I was really impressed with the enthusiasm andpassion of the entrepreneurs I met with while I was in Vietnam. Theywere also quite aware of areas they needed to work on and then need tofind mentors and advisors that can help them on their journeys of growingtheir businesses. I see a lot of potential in all of them!”-VNA
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