Women make up nearly half of the world's population but currently contribute only 37% to global GDP. Empowering women to participate equally in the economy could help increase global GDP by up to $28 trillion by 2025. Globally, women are estimated to own about 33% of all businesses. If businesses owned by women were to grow at the same rate as those owned by men, global GDP would increase by an additional $2 trillion, equivalent to 2% to 3% of global GDP, and create between 288 million to 433 million new jobs.

Currently, in Vietnam, more than 20% of small and medium-sized enterprises are owned by women, and 51% of Vietnamese businesses have women in their ownership structure, a higher proportion compared to other countries. However, businesses owned by women are mostly at the lowest levels of the supply chain in many industries and face difficulties in meeting procurement requirements of larger companies.

The business forum with the theme "Supporting women owned businesses to participate in supply chains through sustainable development tools" was organized by the Vietnam Chamber of Commerce and Industry (VCCI) Women Entrepreneurs Council and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), in partnership with the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

According to Ms. Caroline T. Nyamayemobe, the UN Women Representative in Vietnam, the focus of the forum is to discuss solutions to support women owned businesses in accessing markets and participating in supply chains through the application of sustainable development tools. This aims to provide potential opportunities and explore economic development potential, resilience of women-owned businesses, as well as global market access opportunities for women-led enterprises.

During the forum, delegates and business representatives identified five main causes of this situation, including: firstly, limitations in accessing capital; secondly, market access inequality; thirdly, lack of business support networks for women; fourthly, few training programs and mentoring opportunities to enhance skills for female entrepreneurs; fifthly, the burden of family care responsibilities and existing prejudices about women's business abilities.

Specifically, according to Mr. Nguyen Quang Vinh, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), most women owned businesses are small-scale businesses facing difficulties in capital, technology, and management. Therefore, participating in global supply chains is extremely challenging for them. This is why only about 4% of small and medium-sized enterprises led by women are considered dynamic and capable of joining global supply chains.

Mr. Nguyen Quang Vinh, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), spoke at the forum.

Speaking at the forum, Ms. Caroline T. Nyamayemobe, the UN Women Representative in Vietnam, emphasized: "Evidence shows that countries with higher gender equality have faster-growing and more competitive economies. Applying sustainable development tools such as gender-responsive procurement policies and Women's Empowerment Principles (WEPs) is one of the smart choices that help businesses make a difference and achieve sustainable development."

The delegates participated in the panel discussion: "Policies and Practices – Promote Women-Owned Businesses to Access and Participate in Supply Chains."

At the forum, experts also provided updates on the business roadmap for implementing Vietnam's sustainable development goals; solutions to support businesses in meeting national and international sustainable development standards; shared insights on policies and programs to enhance market access, financial and non-financial support for women-owned and women-led businesses.