The Vietnam Chamber of Commerce and Industry (VCCI) experts recommended that the government should make greater effort to encourage people to start up their new businesses.

According to a VCCI survey, four in every 100 adults in Vietnam started a new business, 12 were business owners under 3.5 years and 16 run business over 3.5 years. In some other countries, these figures were 10, 12 and 14, meaning that the number of new business establishments in Vietnam remained low, the Vietnam Economic News reported on May 19.

Most of these business activities were on the processing field and performed on a small scale.

The number of young people engaged in the first stage of business cycle was high. Business starters aged between 25 and 34 remained the highest percentage.

Establishing new businesses would create new jobs, thus helped promoting economic growth. However, the educational programme at high school level has not offered business development, creativity and self-confidence and guiding market principles for students.

Business support services such as consultancy, law, accounting and audit have not been commensurate with the country’s economic growth. Vietnamese infrastructure has remained backward and financial services have not met development requirements.

To promote business development, experts recommended that the state should publish transparent policies, creating favourable conditions for doing business. In addition, the state should create fair competition between economic sectors and strengthen the dissemination of information to people in terms of market needs.

Building the educational system at high school level towards creativity, independence and teamwork ability is mentioned. In addition, the state should put some business knowledge into curriculum for students and popularise business awareness programmes.

The state should also develop business centres based on technology, encourage the development of the manufacturing industry and support industries.

Improving the transport system, waste water treatment plants and industrial zones, completing network of business support services and giving new products in accordance with businesses’ characteristics are underlined.-VNA