Support 53 young people to borrow capital from the Startup Fund to develop the economy

To promote the start-up and career movement among youth union members, the Vietnam Youth Union of the province has established a Start-up Fund, thereby mobilizing businesses and philanthropists to join hands and gradually help young people develop the economy, eliminate hunger and reduce poverty.

To date, the capital has supported 53 young people with viable start-up projects with loans, with a total revolving support fund of more than 1.8 billion VND. In particular, each young household is entitled to an interest-free loan of 20 million VND/project for a period of 12-24 months.

The Vietnam Youth Union of the province organized a training course to improve business management capacity and digital transformation capacity for young people.

In addition to supporting loans, the Vietnam Youth Union of the province also directed the grassroots associations to promote propaganda and dissemination of policies and mechanisms on economic development, start-ups and entrepreneurship through information channels, social networking sites and online applications on smartphones; establish and maintain the operation of 41 "Youth Start-up" clubs; coordinate with the Bank for Social Policies to create conditions for young people to borrow capital to invest in production and business development; organize counseling, career guidance, job introduction, sightseeing and learning experiences at typical economic models in the province for a large number of young people.

Vietnam Youth Union of Buon Don district gives start-up capital to young people in Tan Hoa commune.

In the 2019-2024 term alone, the provincial chapters have provided advice, job skills guidance and training on science and technology transfer to over 112,000 youth members; organized 265 activities to support start-ups and entrepreneurship; supported 106 youth start-up projects with a total capital of over 2.2 billion VND.

Source: https://baodaklak.vn/kinh-te/202505/ho-tro-53-thanh-nien-vay-von-tu-quy-khoi-nghiep-de-phat-trien-kinh-te-3f117ee/