By daring to think, daring to act, and daring to pioneer new ventures, young entrepreneurs are helping to invigorate the Vietnamese business community as the economy faces new developmental demands. A spirit of “proactivity, innovation, and responsibility” serves not only as a driving force for these entrepreneurs to demonstrate their mettle and enhance their competitiveness, but also as a foundation for creating value and contributing to the nation’s development.
On the occasion of Vietnam Entrepreneurs' Day (October 13), a reporter from Young Entrepreneurs magazine interviewed Mr. Dang Hong Anh Vice President of the Vietnam Youth Federation and President of the Vietnam Young Entrepreneurs Association (VYEA) regarding the role of the young entrepreneur community in driving growth, as well as expectations for the new phase ahead.
Young entrepreneurs must look beyond their own businesses.
Mr. Dang Hong Anh, Vice President of the Vietnam Youth Federation and President of the Vietnam Young Entrepreneurs Association (VYEA)
Reporter: Sir, Vietnam Entrepreneurs' Day (October 13) is not only an occasion to honor the entrepreneurial community but also a time to reflect on the contributions that businesses have made to the nation. How do you view the role of young entrepreneurs, particularly as Vietnam pursues ambitious growth targets and seeks to elevate its private sector?
Dang Hong Anh: I believe that, first and foremost, we must view entrepreneurs and businesses within a broader context beyond the story of any single enterprise. Every business that invests, engages in production, creates jobs, pays taxes, exports goods, innovates technology, or develops new products generates value for the economy. When hundreds of thousands or even millions of businesses operate, expand, and enhance their productivity, the cumulative value becomes a vital driver of national economic growth.
In recent years, the role of the private sector has gained greater recognition. Resolution 68-NQ/TW sets a target for the private sector to achieve an average annual growth rate of 10–12% by 2030, contributing approximately 55–58% of the GDP, 35–40% of total state budget revenue, and providing employment for about 84–85% of the total workforce. These figures represent more than just scale; they also underscore the need for high-quality entrepreneurs and robust capabilities among Vietnamese enterprises.
For young entrepreneurs, I believe the responsibility is even greater. We have a generation of entrepreneurs who have matured within an environment defined by international integration, digital technology, and global competition. Therefore, young entrepreneurs cannot simply focus on how to keep their businesses afloat; they must think more broadly how to scale up, integrate into supply chains, develop branded products, leverage technology, boost productivity, and gradually expand into international markets.
From the perspective of the Vietnam Young Entrepreneurs Association, we aim to drive this shift. Young entrepreneurs need to move beyond a mindset of merely highlighting challenges toward one of proactively proposing solutions, engaging in policy dialogue, connecting with one another, and collaborating with the government to address development-related issues. The 2026 Vietnam Private Sector Economic Forum is a clear example of this. Through local dialogue sessions and regional networking events, we are working to ensure that insights from the realities of production and business are incorporated into the ongoing efforts to refine the business environment.
Interviewer: One of the issues you have repeatedly emphasized is collaboration. In the current climate, do you believe that Vietnamese enterprises can no longer rely solely on their own individual capabilities, but must instead collaborate to generate greater collective strength?
VYEA Chairman Dang Hong Anh (second from right) and Chairman of the Ho Chi Minh City People’s Committee Nguyen Van Duoc (far right) at the VPSF 2026 session a regional roundtable focused on connecting internal resources, held in Ho Chi Minh City.
Mr. Dang Hong Anh: Looking at the structure of Vietnamese enterprises, we see that the vast majority are small and medium-sized, with a very high proportion of micro-enterprises. Consequently, it is extremely difficult for any single enterprise to independently meet all the requirements regarding capital, technology, management, human resources, market access, and international standards. Even businesses with excellent products may struggle if they cannot find partners, lack a distribution network, or have yet to integrate into a supply chain.
In my view, "collaboration" must be understood in a truly substantive sense. Simply meeting, signing a memorandum of understanding, or organizing a networking event does not constitute meaningful collaboration. True collaboration must lead to actual transactions, orders, technology transfers, resource sharing, joint investments, or the opening of new markets.
Large enterprises can play a leading role within a supply chain by setting standards and creating opportunities for Vietnamese suppliers. Meanwhile, small and medium-sized enterprisesif they wish to join such chains must elevate their product standards, management practices, technology, and overall operational capacity. Furthermore, different localities need to collaborate to avoid fragmented, isolated development, especially given that products, raw materials, logistics, and markets often exist within a broader, interconnected economic space.
This is also the direction the Vietnam Young Entrepreneurs Association is focusing on. We aim to shift our networking efforts from mere "meetings" toward "substantive connections" linking markets, supply chains, technology, expertise, and investment opportunities. During this term, the Association aims to roll out approximately 2,000 intra-association trade promotion activities. Simultaneously, it seeks to build a business ecosystem designed to help member enterprises save 8–20% on annual fixed costs, reduce marketing and sales expenses, and foster a preference for using one another’s products and services.
Engaging in diverse sectors, but always creating tangible value
Reporter: Vietnam is striving for high growth. In your view, how can the community of young entrepreneurs specifically contribute to GDP growth?
Mr. Dang Hong Anh: I believe that the contribution of young entrepreneurs to GDP should not be viewed merely as a standalone figure attributed to this community alone. Instead, one must look at the economic activities generated by these enterprises investments, production, trade, services, exports, technological innovation, job creation, and the formation of new value chains.
For growth to be both high and sustainable, the decisive factors are productivity and the quality of that growth. It is certainly positive for a business to open a new factory, hire more workers, and increase revenue; however, if that same business also leverages technology to generate greater value per employee, conserves energy, cuts costs, enhances product quality, and gains access to larger markets, its contribution to the economy becomes significantly more substantial.
This is why young entrepreneurs need to place a stronger emphasis on science and technology, innovation, and digital transformation. Technology is not the exclusive domain of "tech companies." An agricultural enterprise can utilize data to manage its raw material sourcing areas; a manufacturing firm can employ automation and AI to optimize processes; a trading company can leverage data to better understand its customers; and a tourism business can digitize the customer experience to expand its market reach. I also believe that another key driver is the potential for deeper integration into value chains. The contribution to economic growth differs significantly depending on whether a Vietnamese product remains at a low value-added stage or is instead researched, designed, manufactured, branded, and distributed by a Vietnamese enterprise. Therefore, the ultimate goal is not merely to increase the number of enterprises, but to foster a greater number of robust, highly productive firms capable of generating higher added value.
Resolution 68 sets a target of having 2 million active enterprises by 2030, with at least 20 major enterprises participating in global value chains. The government has also set a goal for the private sector to account for approximately 55% of GDP by 2026. These objectives underscore the fact that the private sector is being positioned more centrally within the narrative of economic growth.
Mr. Dang Hong Anh (holding a microphone) speaks at the 2026 Vietnam Private Sector Economic Forum.
Reporter: The community of young entrepreneurs is increasingly involved in a wide range of economic sectors from manufacturing, trade, services, technology, and agriculture to infrastructure and emerging industries. In your view, how can this diversity be effectively harnessed as a driver for growth?
Mr. Dang Hong Anh: Diversity is an advantage, provided we know how to foster connections. Today’s economy no longer develops within isolated, separate "compartments." An industrial project requires logistics, finance, technology, human resources, and services; an agricultural product needs a supply base, processing, quality standards, branding, and market access; the tourism sector relies on infrastructure, services, commerce, and technology.
Therefore, I see the role of the young entrepreneur community not merely as individuals operating within specific sectors, but as a network capable of bridging those sectors. This is the immense value of an association. If the association understands the capabilities and needs of its members and identifies how they can support one another the network of entrepreneurs evolves into a robust economic ecosystem.
Recently, we have been steering the activities of the Vietnam Young Entrepreneurs’ Trade and Investment Promotion Club in this direction. Our goal is to facilitate connections that lead to concrete business transactions, investment partnerships, and market expansion. Furthermore, the association aims to strengthen ties between large and small enterprises, between businesses and cooperatives, among enterprises across different localities, and between Vietnamese firms and international partners.
I believe a strong economy is not defined by the presence of a few massive corporations, but rather by an economic ecosystem that is healthy and well-rounded comprising anchor enterprises, suppliers, and specialized firms in technology, logistics, finance, and services. Businesses can support and complement one another. In doing so, every unit of invested capital can generate multiple layers of value within the economy.
Furthermore, young entrepreneurs must be keenly aware of their social responsibilities. Creating jobs, complying with the law, protecting the environment, contributing to the state budget, engaging in community activities, and building a sound business culture are all essential components of sustainable development. The larger the business, the greater the responsibility.
October 13th: Honoring to Fuel the Aspiration to Contribute
Reporter: What is the significance of October 13th this year for the business community, especially for young entrepreneurs? What message would you like to convey to the community on this occasion?
Mr. Dang Hong Anh: Vietnam Entrepreneurs' Day, October 13, is an occasion to recognize the contributions of the entrepreneurial community; however, in my view, its greater significance lies in looking toward the future. On October 13, 1945, President Ho Chi Minh sent a letter to the industrial and commercial community, emphasizing its vital role in building a robust and prosperous economy and financial system. In 2004, the Prime Minister designated October 13 as Vietnam Entrepreneurs' Day.
Over the past two decades, October 13 has become a special occasion for society to acknowledge the efforts of entrepreneurs, while also serving as a moment for the business community to reflect upon itself. To me, honoring entrepreneurs is about more than just bestowing titles or awards; it is about fostering confidence and encouraging a spirit of daring daring to think, to act, to take responsibility, and to innovate.
To young entrepreneurs, I would like to offer three key pieces of advice: be proactive, be innovative, and be responsible. Be proactive in the face of shifts in markets, technology, and policy; be innovative in your management, products, business models, and market approaches; and remain responsible toward your employees, customers, partners, and the community, as well as toward the broader development of the nation.
I would also like to emphasize that young entrepreneurs must "dare to go the distance." Going the distance does not necessarily mean immediately expanding abroad. First and foremost, it means building a Vietnamese enterprise that possesses competitiveness, a strong brand, sound management, the resilience to endure through various economic cycles, and the capacity to create value for society. Once the foundation is sufficiently strong, expanding into the region and the global stage will become a natural progression. On the occasion of Vietnam Entrepreneurs' Day (October 13), I hope the business community will continue to stand alongside the nation, leveraging its own entrepreneurial capabilities. If every enterprise performs a little better, creates a bit more value, fosters stronger connections, and embraces greater responsibility, the cumulative effect will be a formidable force.
I believe that in this new era, Vietnamese entrepreneurs are not merely creators of wealth for their own businesses; they are a driving force that shapes the competitiveness of the entire economy. As Vietnamese enterprises grow stronger, as Vietnamese brands reach further, as more jobs and income are generated for workers, as technology is more widely adopted, and as domestic value chains are solidified these represent the most practical contributions to GDP growth and the nation’s sustainable development.
To our young entrepreneurs, my message remains the same: dare to act, dare to innovate, and dare to venture far. Yet, alongside the ambition to grow your own businesses, I urge you to look beyond the confines of your own enterprises. As individual businesses become stronger, forge better connections, and collectively build the "Vietnamese brand," the private sector will gain greater strength, and the foundation for the nation’s growth will become increasingly robust.
Thank you very much!
Source: Vietnam Young Entrepreneurs Newspaper