They are all outstanding people of startup and entrepreneurship spirit of the Ho Chi Minh Communist Youth Union (HCYU) chapter in Cao Phong district.

Bui Van Cuong of Hop Phong commune (Cao Phong district) (first from right) elaborates on his family’s economic model to encourage startup spirit in local youths.

At present, four members of the HCYU in Cao Phong were able to borrow loans totalling 380 million VND (16,350 USD) from the national fund on jobs of the HCYU Central Committee. Outstanding loans managed by the district’s HCYU chapter stood at about 71 billion VND.

Many members have efficiently used the loans to reap fruitful economic results. They have successfully expanded their businesses not only to raise income but also venture in new fields. Capital plays a great role as a leverage to help members stabilise and make breakthroughs.

To encourage the startup spirit among the members, the district’s HCYU chapter has launched a programme to support the youths to set up their businesses. The programme prioritises communication works and the establishment of a startup incubator. It also looks to provide training, counseling and introducing jobs to young people.

In addition, a campaign titled "Innovative youths” has yielded positive results. In 2019, the standing committee of the district’s HCYU chapter arranged a contest on startup ideas at the provincial level. It also joined hands with the provincial HCYU chapter to hold a seminar on pushing ahead the "Innovative youths” campaign, which attracted various youngsters.

Through a number of activities, the HCYU chapter of Cao Phong has fostered startup ideas and lit up members’ innovative spirit./.

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