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Vietnam Young Entrepreneurs Association (VYEA)

Vietnam Young Entrepreneurs Association is a non-profit organization that supports and represents young entrepreneurs in Vietnam.
Vietnam Young Entrepreneurs Association (VYEA)
Leadership team

Dang Hong Anh (Chairman)

Headquarters
Vietnam, Hanoi
Region served
Vietnam
Year stablished
1993
Address
64, Ba Trieu Street, Hoan Kiem District, Hanoi City, Vietnam, Hà Noi, VN
Social Media
Summary

The Vietnam Young Entrepreneurs Association (VYEA) is a voluntary, non-profit professional social organization that aims to promote the development and success of young Vietnamese entrepreneurs, regardless of their economic background, business field, ethnicity, or religion. 

Founded in 1993, the association has developed its network in all 63 provinces and cities of Vietnam and has more than 11,000 members. Its members have created jobs for about 3 million employees and earned total annual revenue of over USD 30 billion.

On March 30, 2022, the VYEA convened its seventh National Congress, attended by 800 young businesspeople from across the country, and representatives of various ministries, departments, and central authorities. 


History

In August 1991, the Central Committee of the Vietnam Youth Union held the 1st National Meeting of Entrepreneurs. The meeting was attended by 28 delegates who were successful business people. Later, in December 1993, the Vietnam Youth Union Club was established under the Central Vietnam Youth Union.

In November 1994, the advocacy committee of the Vietnam Entrepreneurs Association was established with 15 members. On February 23, 1995, the Provisional Committee of the Vietnam Youth Union was established under Decision No. 40 QD/TUH of the Vietnam Youth Union with 35 members.

In August 31, 1998, the National Congress of Enterprises in Vietnam was held, which was attended by over 300 typical entrepreneurs representing the business world of the country. Subsequently, on September 11, 2002, the Government officially allowed the establishment of the Vietnam Enterprises Association. In November 23-24, 2002, the 1st Congress of Vietnam Entrepreneurs Association was held in Hanoi, attended by 500 official delegates representing the business community in the whole country.

The 2nd, 3rd, and 4th National Congress of Vietnam Entrepreneurs Association was held on December 16-17, 2005, December 13-14, 2008, and December 26-27, 2011, respectively. These congresses were attended by hundreds of official delegates.

In June 22, 2009, the Ministry of Home Affairs issued Decision No. 957/QD-BNV allowing to change the name of Vietnam Young Business Association to Vietnam DNT Association. Meanwhile, on August 27, 2018, nearly 10,000 members of the Vietnam Young Entrepreneurs Association (VYEA) created three million jobs in 2015-18, as stated by the group at their sixth national congress in Hanoi. The congress was attended by Deputy Prime Minister V??ng ?ình Hu? and 700 VYEA members.

On March 13, 2020, the Vietnam Young Entrepreneurs’ Association (VYEA) raised 5 billion VND (217,000 USD) from individuals and businesses in support of the production of 10,000 sets of SARS-CoV-2 test kit, as reported by its Chairman Dang Hong Anh. Moreover, on March 31, the congress reviewed the association’s operation in the 2018-2021 term, discussed goals and orientations for the next three years, and elected the VYAE’s Central Committee of the 2022-2025 tenure. 


Goals and Purpose

VYEA's primary objective is to build a strong network of young entrepreneurs and help them adapt to the digital era. By consolidating and developing the organization, VYEA can provide its members with a supportive community where they can share ideas and experiences, and gain access to resources that can help them succeed in the business world.

Moreover, VYEA plays a vital role in promoting trade and investment activities that can help young entrepreneurs grow their businesses. The organization works towards increasing the role of the Young Entrepreneurs ecosystem in national policy making, so that the government can better understand and support the needs of young entrepreneurs in the country. Through these efforts, VYEA is not only helping young entrepreneurs succeed but also contributing to the overall economic growth of Vietnam.

In addition to promoting trade and investment activities, VYEA supports young entrepreneurs to start innovative businesses and build corporate brands. This support helps to encourage entrepreneurship and innovation in the country, leading to the creation of new jobs and boosting the economy. VYEA also recognizes and honors typical young entrepreneurs who have achieved great success in their businesses, providing inspiration and motivation to other young entrepreneurs.

Finally, VYEA stimulates social-security activities to connect young entrepreneurs to the community. Through these activities, VYEA helps to build a sense of social responsibility among young entrepreneurs and encourages them to give back to the community. By supporting young entrepreneurs to connect with the community, VYEA is not only helping to create a better future for young entrepreneurs but also contributing to the overall well-being of society.


Impact

The Vietnam Young Entrepreneurs Association (VYEA) has had significant impacts on job creation and economic growth in Vietnam. With over 11,000 members and networks in 63 provinces and cities nationwide, the Association's members have created jobs for about 3 million employees and earned total annual revenue of more than USD 30 billion. During its 2014-18 tenure, the Association had held over 200 trade promotion activities and generated some USD 25 billion in average annual revenue. Additionally, in 2017 alone, the Association's top 10 entrepreneurs generated VND 1.231 trillion in revenue and created 1,637 jobs.

Furthermore, the VYEA has actively supported social security efforts in Vietnam, contributing to preventing and controlling the COVID-19 outbreak through various initiatives at all levels. The Association has also raised funds for the production of 10,000 sets of SARS-CoV-2 test kits. These efforts have gained a positive impression and showcased the community responsibility of young Vietnamese entrepreneurs.

The VYEA has also made significant movements in quality under the slogan "Vietnamese young entrepreneurs - Pioneering innovation - Creating value." The Association has recognized excellent young startup entrepreneurs through its programme since 2015, honoring 300 businesspersons from across the nation to date.

Additionally, the VYEA has successfully completed the role of Chairman of the ASEAN Young Entrepreneurs Council 2020 for the 2018-2021 term, becoming an official member of the Young Entrepreneurs Group of Asia Pacific. The Association's organization is more local-oriented, promoting the Association's member clubs and 10 Young Entrepreneurs Clusters with various practical activities, connecting young entrepreneurs around the country.


References
Vietnam Young Entrepreneurs Association (VYEA)
Leadership team

Dang Hong Anh (Chairman)

Headquarters
Vietnam, Hanoi
Region served
Vietnam
Year stablished
1993
Address
64, Ba Trieu Street, Hoan Kiem District, Hanoi City, Vietnam, Hà Noi, VN
Social Media