The role of female entrepreneurs in economic development

DNHN - In the context of globalization, the role of female entrepreneurs in Vietnam has become increasingly important. They not only contribute to the economy but also drive growth.

According to the Vietnam Chamber of Commerce and Industry (VCCI), the proportion of female entrepreneurs in the total number of registered enterprises in Vietnam has significantly increased in recent years. As of 2022, women accounted for about 30% of entrepreneurs nationwide. This rise is not only due to more women starting businesses but also because of the transformation of existing enterprises, where women hold leadership and management positions.

Many women have succeeded in traditional sectors such as apparel, food, and tourism, but there is also a notable presence in fields like information technology, finance, and startups. This not only proves women's capability and creativity but also reflects a shift in societal attitudes towards their role in business.

Female entrepreneurs make a substantial contribution to the country's economy. They not only generate revenue for their businesses but also create millions of jobs, helping to improve the livelihoods of many families. According to the World Bank, promoting gender equality in business can bring significant economic benefits to a country.

Research indicates that when women participate in the workforce and business, labor productivity increases significantly. This is because women often bring diversity in thinking and approaches to management, which enhances the operational efficiency of enterprises. Many female entrepreneurs have built well-known brands not only domestically but also internationally, elevating the value of Vietnamese goods on the global market.

The most prominent examples are three Vietnamese female entrepreneurs who were honored in the "Most Powerful Women in Asia 2024" list. They are Nguyen Thi Phuong Thao, Chairwoman of VietJet Air; Nguyen Duc Thach Diem, CEO of Sacombank; and Mai Kieu Lien, CEO of Vinamilk.

According to Fortune Magazine, these "iron ladies" not only demonstrate strength but also bring innovation, breakthroughs, and drive growth in the Asia-Pacific region. Nguyen Thi Phuong Thao ranked 66th on the list, recognized for her contributions to the aviation industry.

Thao is the founder of VietJet, which she launched in 2011. She is also Vietnam’s first female billionaire, making it to the Forbes list with a net worth of $2.9 billion, an impressive achievement in the business world.

Ranked 71st is Nguyen Duc Thach Diem, Vice Chairwoman and CEO of Sacombank. She joined the bank in 2002 and became CEO in 2017 after the retail bank merged with Phuong Nam Commercial Bank, contributing to the sustainable development of the organization.

Lastly, Mai Kieu Lien, CEO of Vietnam Dairy Products Joint Stock Company (Vinamilk), was ranked 75th. Vinamilk is currently the largest listed food and beverage company on the Ho Chi Minh Stock Exchange (HOSE), with a market capitalization of $6 billion, affirming her solid position in Vietnam's dairy industry.

Besides their economic contributions, female entrepreneurs play an important role in building social values. They are often involved in community activities, supporting education, healthcare, and raising awareness on social issues. Many female entrepreneurs have initiated charitable projects, supporting disadvantaged people, especially women and children.

Their presence in community activities not only helps improve the lives of people but also reaffirms the role of women in promoting sustainable development. They become ideal role models, inspiring younger generations to pursue careers and contribute to society.

Despite numerous achievements, female entrepreneurs still face many challenges. One of the biggest issues is gender discrimination in business. Many women still find it difficult to access investment capital, as investors often doubt their leadership abilities.

Furthermore, the lack of support networks and connections makes it challenging for many female entrepreneurs to grow their businesses. Meanwhile, family and social responsibilities remain a significant pressure, making it difficult for them to balance work and personal life. Many female entrepreneurs endure stress from both work and family, which affects their work performance and mental health.

Besides financial support, training and skills development for female entrepreneurs is also a crucial factor. Training programs on management, finance, marketing, and information technology need to be expanded, helping women acquire the necessary knowledge to run their businesses effectively. Moreover, organizing seminars to share experiences from successful female entrepreneurs not only provides motivation but also helps them learn valuable practical lessons that can be applied to their business activities.

Building support networks among female entrepreneurs also plays a vital role in their development. Female entrepreneur associations can organize networking events, enabling members to connect and share experiences. This not only expands collaboration opportunities but also forms a strong community where female entrepreneurs can support each other, from finding partners to sharing resources and information.

Finally, raising community awareness about the capabilities and role of women in business is extremely important. Strong media campaigns will help promote the image of female entrepreneurs, while also challenging existing social stereotypes. When the community gains a better understanding of the potential of women in business, more women will be encouraged to enter the field, thereby creating a more diverse and equitable business environment.

The role of female entrepreneurs in building and developing Vietnam's economy is undeniable. They are not only active contributors to the economy but also pioneers in changing societal perceptions of women. Despite ongoing challenges, with support from the government and the community, female entrepreneurs will continue to assert their positions and contribute to the country's sustainable development.

Promoting the participation of female entrepreneurs not only benefits the economy but also contributes to creating a fair and progressive society. To realize this, there must be close cooperation between stakeholders, from the government and businesses to social organizations. Only then can we build an equitable business environment where women can maximize their potential in their careers.

Phan Chinh