Women-led enterprises contributed greatly to economic recovery

Domestic enterprises, especially those run by women, have contributed greatly to the completion of the twin targets set by the Government amidst the adverse impact of the COVID-19 pandemic, said expert.

Addressing a workshop in Hanoi on November 6 on business transforming and the empowerment of women in engaging in business activities for economic recovery and development, head of the Management and Sustainable Development Institute (MSD) Pham Khanh Linh noted that there are about 200,000 women-led companies among the about 800,000 businesses in Vietnam, or 25 percent.

Besides, about 30 percent of the total small- and medium-sized enterprises (SME) in the country also have their leaders being women, Linh added.

Vietnam aims to have 350,000 women-owned firms by 2020, meaning the number of female entrepreneurs must triple in the next three years, a rate even faster than the overall growth speed of business volume nationwide.

Vietnam has recorded gender equality achievements in political and economic sectors since the Law on Gender Equality took effect.

The Law on Gender Equality was approved by the Vietnamese National Assembly in 2006 and took effect in 2007. This marked a progressive step towards ensuring gender equality in Vietnam.

Regarding the rights of children in business principle, Ines Kaempfer, Executive Director of the Center for Child Rights and Corporate Social Responsibility (CCR CSR) in Asia, said that pregnant and nursing women have high demand for nutrition and resting, therefore businesses should give them optimal conditions in the period.

Meanwhile, Ted Lopez, Executive Director of Alter Trade Foundation, said that the empowerment of women in business activities and ensuring the rights of women in working places are vital in the successful implementation of the Agenda 2030 on Sustainable Development Goals and the Convention on the Elimination of All Forms of Discrimination Against Women that Vietnam has committed to implement.

In order to speed up the national target on gender equality in labour and employment, it is necessary to review policies and programmes related to the economic power and ownership rights of women as well as equality in work place in both official and unofficial sectors, he said.

He also stressed the need to define the role of the government as well as international organisations and the private sector in shaping and impacting the employment market and the women empowerment process.

At the conference, participants discussed and sought solutions to enhance the role and power of women in economic sector, promoting women’s access and equal opportunities to enjoy benefits in employment, enhancing their capacity and promotion chances as well as involvement in the supply chain, thus contributing to prosperity and sustainable growth of enterprises and countries.

Ngoc Diu