Part 6: Starting-up movement promoted

Part 5: Sustainable and effective development of private economic sector

Looking back over 20 years ago, Binh Duong province has many difficulties as infrastructure was weak with a few of enterprises. However, only after a short time, Binh Duong has become a land of convergence for business community.

Workers are producing handicraft products at Quang Minh Production JSC at Thoi Hoa Ward in Ben Cat Town. Photo: Hoang Pham

Favorable land for starting up

Only from the beginning of the year, Binh Duong has attracted VND 18,500 billion investment capital of domestic enterprises registering for business operations with 2,270 newly registered enterprises, adding up to the total number of 27,823 enterprises in the country with a total registered capital of nearly VND 210,000 billion. The figure is of pride in creating business environment with reformed administrative procedures.

Binh Duong, a land of strong and dynamic development, naturally does not lack young people of daring to thoughts and actions, committing to start up new businesses. Many have boldly thought of business venture and succeeded. Nine years ago, Tran Thanh Trong, a normal salesman for a foreign company specializing in selling generators, by his enthusiasm and adventure of youth, and his colleagues have chosen My Phuoc land in Ben Cat Town to start up a business.

"At that time Ben Cat was very deserted; many people have told us to be cautious of choosing this land to do business. But by our perception and observation, we think that no better place than Binh Duong to start a business, " Trong recalls.

Now, after nine years, Sang Ban Mai is the leading manufacturer of industrial power generators in South East Asia and is gradually realizing its ambition to cover this market.

Huynh Thi My Hien born in 1990s from Ben Cat District, started from the beauty needs. Hien shared that her family was of no business tradition, but from her dream of becoming an entrepreneur, she endeavored for the goal. Failing college entrance examination in 2010, Hien started to foster business idea from her beauty needs. Currently, she provides cosmetics and beauty products in Binh Duong province and localities in the South East of Vietnam.

Another example is Mai Xuan Truong who has decided to quit operating position of a travel company in Ho Chi Minh City to return home in Phu Hoa Ward of Thu Dau Mot Town to start up raising chicken. Nowadays, at 28, Truong has a large chicken farm, making his name and brand across the country. He is also ambitious is to export chicken raised by him.

A place start-up business

USA and Israel have become the promising lands of start-up businesses not because of smarter starters but because of ideal ‘ecosystem’ to start the most delicate ideas. They are fully informed and resourceful. Thus, to be in the same position, Binh Duong is forced to construct such ‘ecosystem’.

Binh Duong is a land of rich economic life with a full range of components, from state-owned enterprises to private enterprises and foreign-invested enterprises. Therefore, the economic picture in Binh Duong is colorful with the complement of various economic components. This is also a fertile ground to sprout industries, creating and realizing the dream of enriching themselves and the country of young people. Therefore, to make Binh Duong really a place of start-up business and the dream land for many youths of dream, energy, ambition in the future, need the companion, orientation and division shared by all levels, sectors and localities in the province. The way to start a business is the same, success stories are easily told but not made.

According to many economists, if the environment is good, the spirit of starting a business will be stronger. Starting a business does not require just entering the business, but also the creating new ones in production and business. Nguyen Van Hung, General Director of CNCTech Company in Dong An Industrial Zone of Di An Town, a leading expert on start-up, said that starting a domestic business is easy and difficult. The key ingredient is a start-up ‘ecosystem’. The province needs to pay attention to and consider supporting the place for startup to focus on working, organizing events of sharing knowledge and experience as well as attracting other startups from Ho Chi Minh City and Hanoi. In addition, it is important to organize startup events regularly and invite experts to train, share knowledge about technology startups as well as call on successful people to share, hook up the startups. At the same time, legal, accounting, counseling, and communication services etc. must be accessible, efficient and cost-effective for startups.

According to experts, it is not necessary that the Binh Duong people themselves start their own businesses to encourage and support the province to build an dynamic image to community. Thereby, starting a business is no longer a matter of speaking, or exhorting the spirit to really become a vibrant movement and bring great material values and spirit for young people privately and socially. This has contributed to successful implementation of the Party Central Committee's 5^th Resolution of the 12^th tenure.

Next and end: Oriented economic development

Reported by Khanh Vinh – Translated by Vi Bao