New report shows Vietnamese entrepreneurs are growth-oriented
More than 70 of Vietnamese entrepreneurs choose to start a business to take advantage of opportunities. This is just one of many findings published in a new report that looks at entrepreneurship in Vietnam.
The 2014 Vietnam Report, by the Global Entrepreneurship Monitor (GEM), was launched on June 9, 2015 at the National Entrepreneurship Forum of the Vietnamese Chamber of Commerce and Industry (VCCI). The report, funded in part by IDRC, is based on the results of a survey of 2,000 individuals and 36 experts in Vietnam.
IDRC has supported GEM since it was established in 1999. Over the past 16 years, GEM has become the world's leading source of information on entrepreneurship. It examines the national entrepreneurial context in over 100 countries as well as individual's attitudes and behaviour.
Key findings in the 2014 Vietnam Report include:
- 18.2% of respondents intend to start a business in the next 3 years, lower than the average of 40.2% in other factor-driven economies
- Fewer adults fear business failure: the percentage reduced from 56.7% in 2013 to 50.14% in 2014, compared with 31.4% in other factor-driven countries
- Successful entrepreneurs are highly appreciated by Vietnamese society (75.9%) and entrepreneurship is a desirable career choice for 67.2% of the adults surveyed
- Vietnamese adults start a business primarily to take advantage of opportunities (70.3%) rather than because there is no better choice for work (29.7%)
Read GEM's 2014 Vietnam Report(PDF, 2.7MB).
Learn more about how IDRC is supporting the economic transformation of Vietnam.