According to Phan Duc Quang, General Director, founder of Proview Group Joint Stock Company (a startup in the technology sectordeveloping the KPIBSC.COM platform to help enterprises focus on the strategy of performance measurement), State management agencies need to conduct practical surveys on the needs of the startup community to have effective support policies and avoid wasting resources.

Phan Duc Quang 

What should start-ups do before the impact of the Covid-19 pandemic?

- The Covid-19 pandemic has affected aspects of the economy across board, especially production and international trade. This is a challenge and a great opportunity for Vietnamese organisations, enterprises and startups to review and propose plans to restructure and reform business models and is a great driving force for digital transformation, focusing on digitalisation as well as making transactions via internet platforms. In particular, start-ups that are newcomers to the market must have solutions to exploit the strengths of information technology. This is a prerequisite, mandatory and "vital" for new startups in all sectors and fields.

Moreover, startups need to apply digital transformation to promote the strength of connections with associations, customers, partners, authorities, and the Government to take advantage of technical support, policies and market information promptly and effectively. We have received proposals for cooperation from foreign customers.

How do you evaluate the support of management agencies for startups?

- In Vietnam, the Government has issued effective support policies and dynamics forstartups both in terms of direct and indirect support. These support policies stimulate demand for production and business activities and help startups focus on solutions to promote production and business activities. When there are production and business activities, flow between products, goods, services and cash flow will also exist andeffectively support the sustainable development of startups

Startups are forecast to still face many difficulties in the near future, so how will they need support policies from the State?

- For support packages to promote efficiency and meet the actual situation of enterprises, a specific survey for each group affected by Covid-19 should be conducted. Thereby, management agencies will develop timely support policies for enterprises, including startups, in the information technology area like us. For example, priority areas that need capital and tradeexchangeshould be directly supported; and areas that need a long-term strategy with less priority can be indirectly supported by tax and fee policies.

I firmly believe with the new way of policy making based on responses of enterprises, the policies will be made both quickly and effectively, avoiding wasting resources. In addition, the Government also needs to speed up the process of modernisation, strongly support and encourage the application of information technology, 4.0 technology and digital transformation in economic development programs.

I have observed that countries like Singapore have many moves and support policies to create conditions for enterprises to start up and innovate by order-based support. The state will offer preferential policies to exempt, reduce taxes, fees or direct incentives for orders of enterprises. For example, if an enterprise receives a purchase order for a software technology solution, the state will provide indirect support such as extension of tax and fee payment or tax and fee exemption, or direct support ofpercentage value of the total invoice for the order.

“Dr. Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry (VCCI): Impressive in terms of both quantity and density of startups

Vietnam is becoming a "start-up country" with impressive numbers in both quantity and density of startups. However, compared to some countries in ASEAN such as Singapore, Malaysia, and Indonesia, Vietnam is still behind in attracting investment capital for startups. Each country pursues its own startup support policy. Singapore has set a strategic goal of becoming a "Smart Nation" and is taking strong steps to achieve this goal, including the 2020 Research, Innovation and Enterprise 2020 Plan (Rie 2020). Thailand considers “startups as an important pillar, they are new economic warriors that generate socio-economic benefits, shape the innovation - based economy and help the country escape the middle-income trap ”

X. Thao (record)

Hub Langstaff, Country Director of Swiss Entrepreneurship Program: Sticking to three main pillars

The start-up incubator is the model that many countries around the world have successfully applied and created many big enterprises. In Vietnam, this model is also being developed, but we also must pay attention issues including: development of incubators; organisation and operation of incubators; selection of seeds; development of network and international cooperation; forms of calling for investment; role of Government and local government and intellectual property. To be successful, authorities and enterprises need to stick to three main pillars: ideas/technology (products targeting customer needs; high commercialisation capacity; intellectual property transparency); management (with knowledge and experience in both technology and business; working full time); finance (caring about start-up capital; accessing to other sources of finance and initial profits).

H.Diu (record)