Top 100 young Vietnamese entrepreneurs honoured

VGP The Viet Nam Youth Federation (VYF) Central Committee and the Viet Nam Young Entrepreneur Association (VYEA) held a ceremony in Ha Noi on December 28 to announce the 100 exemplary young Vietnamese entrepreneurs in 2017 and present the Sao Do Award 2017 to the ten most outstanding entrepreneurs.

The Sao Do Award is based on the criteria of personal achievements of candidates in managing and operating their firms; total assets, revenues and budget contributions; after-tax profit; return on equity (ROE) and return on assets (ROA); liquidity ratio; and social activities of enterprises.

In 2017, the voting council for the TOP100 and the Sao Do Award highlighted the criteria on sustainable development, integration, social responsibilities and business ethics of the nominated entrepreneurs, whilst giving priority to the candidates who have produced multiple initiatives and innovations, and applied scientific and technological advances to business production, thus bringing success to their businesses.

The 100 honorees' companies generated approximately VND320.7 trillion (US$14.11 billion) in combined revenues this year, contributed VND40.68 trillion (US$1.79 billion) to the State budget, and provided employment for 119,000 laborers.

The ten winners of the 2017 Sao Do Award are the outstanding examples of the new generation of young entrepreneurs who are dynamic, creative and enthusiastic, and are also the young entrepreneur model in the period of international economic integration. Their businesses generated VND235.43 trillion (US$10.35 billion) in combined revenues during the past year, whilst contributing VND35.52 trillion (US$1.56 billion) to the State budget and offering jobs for 46,600 laborers.

Praising the achievements obtained by young entrepreneurs, Deputy PM Truong Hoa Binh affirmed that the Party and State always highly valued the role played by businesses and entrepreneurs in the cause of national construction and development.

He attributed the country's accomplishments in 2017 to the significant contributions of businessmen across the country, including the exemplary young entrepreneurs, whilst voicing his belief that the ten recipients of the 2017 Sao Do Award would continue to exert efforts to deserve the title, contributing to developing Viet Nam into a modern industrialized country in the new period.

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam