Sam Potolicchio, director of Global and Custom Education at McCourt School of Public Policy at Georgetown University 92 per cent of the Vietnamese youth consider starting a business a desirable career opportunity. How would you assess the Vietnamese youth’s readiness for entrepreneurship? 92 per cent is an amazing show of entrepreneur spirit and I believe much of this can be traced back to the young population – and all these young people carry with themselves the dynamism, flexibility, and daring that is so important in setting up their own business. This number also makes me think that young Vietnamese people are particularly bold and brave in their thinking. For many, opening a business seems like an insurmountable challenge: they see tasks to do, requirements to fulfil – and all the difficulties can sometimes overshadow the gains. Vietnamese people, on the other hand, dare to leave their comfort zones and explore the wilds beyond to actively seek out … [Read more...] about Trappings of a successful startup entrepreneur
Why starting your own business is important
She was all of 10 years old when Men was abandoned by her mother in front of the Saigon Central Post Office in District 1. Men was also blind. After hours, her heart-rending cries caught the attention of the local police. They took her to a nursing home near the Thi Nghe Bridge in Binh Thanh District. Men stayed there for two years, before moving to the Blind Association of HCMC in the same district. She’s been living there for 26 years now. Her days in the association’s dormitory were peaceful, revolving around a single bed and a pet cat named Quay. But Men wanted more. She decided to start her own handicraft business. Stuffed animals, handbags, key chains, artificial flowers... she could make many things. Her work is so remarkably meticulous that even people with sight would have a hard time imitating it. She asked me how to post pictures of her works online. She has a Facebook account for her business, naturally, but for the last two years, no one bought any of her … [Read more...] about In Vietnam, are the blind leading the blind?
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
Masan takes full ownership of tungsten processing facility Masan Resources Corporation (UPCoM: MSR), one of the world’s largest integrated industrial tungsten mineral and chemical producers, announced that Nui Phao Mining Company Ltd. (NPMC), a wholly-owned subsidiary of the company, has acquired H.C.Starck GmBH’s (HCS) 49 per cent stake in Nui Phao-H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for the total cash consideration of $29.1 million, and now owns 100 per cent of this company. NHTCM, previously a joint venture between NPMC and HCS, was established in 2013 and is a leading producer and global supplier of tungsten chemicals (ammonium paratungstate [APT], blue tungsten oxide [BTO], and yellow tungsten oxide [YTO]). NHTCM processes tungsten concentrate (TC), the main product of NPMC, into higher value-added tungsten products. In consideration of NHTCM’s contribution to the development of Vietnam’s high-tech industries, the Vietnamese Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 17/8
Viet Nam News Shark Tank, a TV reality show for start-ups, had a pleasant shock for viewers last month in the form of Lê Hồng Thảo Quyên, CEO of ViralWorks. Quyên, 26, is one of the rare start-up entrepreneurs in the show (in its second season now) to receive investment offers from all five investors-judges, the eponymous “sharks”. She managed to raise six times the amount she had hoped for. Quyên impressed with her smarts and confidence. Thu Ngân asked her about the show and more. Inner Sanctum: How do you feel after managing to raise US$300,000, six times the amount you had wanted? Completely surprised! I thought only one or two sharks would make an offer, but the outcome was so much better than expected. More importantly, when looking into the eyes of the sharks and seeing their excitement, I felt really happy. For me, Shark Dũng’s generous offer, which is the biggest motivator for ViralWorks, indicates his … [Read more...] about Young entrepreneur confident of going global