Considered one of the world’s poorest countries in the 1980s, Vietnam today has emerged as a rising star in Asia with impressive economic and social progress. By 2035, Vietnam aims upper-middle income status, and become a prosperous, creative, equitable, and democratic society. As women are half of the population and women’s economic empowerment increases social and economic benefits, creating more female entrepreneurs is a central part of the government’s agenda. According to the National Strategy on Gender Equality for 2021-2030, the Vietnamese government expects to see more women business owners in the coming years, accounting for 27 percent of all enterprises by 2025 and 30 percent by 2030.
REALITY
Over the past three decades, Vietnam has shown steady signs of progress in increasing its number of women entrepreneurs. Beginning with the Private Enterprises Law introduced in 1990, legislation has moved toward being more comprehensive and gender-inclusive, with women-owned SMEs (small- and medium-sized enterprises) mentioned for the Law on Support for Small- and Medium-sized Enterprises in 2017. In 2020, Vietnam ranked second in Southeast Asia and 25th globally in terms of women’s business ownership, according to the Mastercard Index of Women Entrepreneurs.
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Considered one of the world’s poorest countries in the 1980s, Vietnam today has emerged as a rising star in Asia with impressive economic and social progress. By 2035, Vietnam aims upper-middle income status, and become a prosperous, creative, equitable, and democratic society. As women are half of the population and women’s economic empowerment increases social and economic benefits, creating more female entrepreneurs is a central part of the government’s agenda. According to the National Strategy on Gender Equality for 2021-2030, the Vietnamese government expects to see more women business owners in the coming years, accounting for 27 percent of all enterprises by 2025 and 30 percent by 2030.
REALITY
Over the past three decades, Vietnam has shown steady signs of progress in increasing its number of women entrepreneurs. Beginning with the Private Enterprises Law introduced in 1990, legislation has moved toward being more comprehensive and gender-inclusive, with women-owned SMEs (small- and medium-sized enterprises) mentioned for the Law on Support for Small- and Medium-sized Enterprises in 2017. In 2020, Vietnam ranked second in Southeast Asia and 25th globally in terms of women’s business ownership, according to the Mastercard Index of Women Entrepreneurs.