To effectively make use of start-up ecosystem of APEC

In a constantly changing world, a new era of growth based on the foundations of the Industrial Revolution 4.0, any economies that ignore timely adaptation may miss many opportunities for develop. This will be a mandatory trend in the Asia-Pacific Economic Cooperation Forum (APEC) and the world. Therefore, Binh Duong as well as localities in the country should soon join the eco-startup APEC business in practical steps.

Most start-up businesses rely on innovation in technology and change the way they look at the world and operate to foster innovation with the application of information technology to the development of the focal sector based on competitive advantage, technology application and the linkage of start-up businesses in value chains, the advantages of the economy, such as high technology agriculture, tourism, culture, entertainment, logistics, and processing.

A process of manufacturing power generators is on-going at Sang Ban Mai Joint Stock Company in My Phuoc Industrial Park II of Ben Cat Town. Photo: Xuan Thi

Recently, the APEC Start-up Forum 2017 was organized by the Vietnam Chamber of Commerce and Industry (VCCI) within the framework of the 24th APEC SME Ministerial Meeting (SMEDP) and related meetings held in Ho Chi Minh City. The forum focused on discussing the content to support and develop micro-, small- and medium-sized enterprises, especially start-ups such as: Creating conditions for enterprises to innovate, opportunities for regional and international integration; accessing the global value chain right from the start of business; Promote sustainable and environmentally friendly socio-economic growth. In particular, the development and development of eco-start-up business is an important premise for the spirit of business development, there are many enterprises start-up business efficiency.

Binh Duong holds plenty opportunities

Under the direction of the government, by 2020, the country will have 1 million enterprises operating. Currently, the country is building a strong entrepreneurial movement that particularly, in Binh Duong, aims to create thousands of new enterprises in the field of science - technology and information technology. The province has also set aside incentives to encourage young entrepreneurs to start their businesses in the new stage.

In recent years, young people in Vietnam have fostered many ideas to start up businesses and set up their own business. Pham Thi Thu Hang, Secretary General of VCCI, said that Vietnam's comparative advantage towards start-up destination is that we have a large and growing market, and the "golden population". With the spirit of daring thoughts, young people in Vietnam can completely create a community of start-ups in the region, despite many competition from outside. Therefore, localities with young, dynamic and creative populations such as Ho Chi Minh City and Binh Duong are the ideal "cradle" to create ecological system for start-ups.

Many experts said that in order for Binh Duong to truly become a place of start-ups, the province needs to have good policies and mechanisms to strengthen its researching, developing and technology transfering activities, connections between research institutes, universities and enterprises; together with that, the commercialization of science and technology products will be accelerated, focusing on product innovation for the market and active participation in the global supplying chain.

In addition, the province also needs to take strong steps to improve the openness of the domestic market and entry requirements, thereby boosting the development of support services for start-ups and improvements. The business training system, especially at the secondary level. This is an opportunity for Vietnam and APEC economies to increase their exchanges, learn experiences and take initiatives to improve the quality of education and start-up training. Only then will we have a strong business team capable of supplying Vietnamese brand products and integrating into the global start-up ecosystem. This makes Binh Duong one of the most important links in the global supplying chain.

Reported by Minh Nguyen - Translated by Vi Bao