Promoting the 'one-person business' model for 'all people to start a business'

Thứ trưởng Bộ Khoa học và Công nghệ Hoàng Minh phát biểu tại họp báo.

Deputy Minister of Science and Technology Hoang Minh speaks at the press conference.

According to the Deputy Minister, the one-person business model is a new business model in Vietnam. “The development of science and technology has created conditions for a person to start a business. Independent business individuals can completely rely on technology, digital platforms, and apps to operate as a business without the need for accountants or administrative staff,” Deputy Minister Hoang Minh explained. The one-person business model helps businesses deduct expenses and enjoy some business benefits.

"This model is expected to create about 1 million new businesses in the coming time, contributing to creating a new, more convenient and transparent business model," Deputy Minister Hoang Minh emphasized.

Along with that, TECHFEST 2025 is also a place to promote the spirit of entrepreneurship, where thematic discussions and panel discussions are held at cafes and restaurants, "turning public places into places to exchange ideas and meet to promote entrepreneurship and innovation". This flexible form of organization helps the spirit of entrepreneurship spread and penetrate into every corner of life. Along with the spirit of entrepreneurship, the culture of tolerant entrepreneurship with failure is also promoted.

Ông Phạm Hồng Quất - Cục trưởng Cục Khởi nghiệp và Doanh nghiệp công nghệ.

Mr. Pham Hong Quat - Director of the Department of Startups and Technology Enterprises.

According to Mr. Pham Hong Quat, Director of the Department of Startups and Technology Enterprises, Ministry of Science and Technology, the composition of participants in TECHFEST 2025 has also changed. The special point is that this year the Organizing Committee has invited award-winning STEM groups at the high school level, university students with research projects, associations with unique business models and plans... to attend. 700 booths, diverse in fields, are divided into specialized areas, creating a space of in-depth expertise. At the Technology Experience Zone, visitors can directly exchange with the authors of the introduced products and experience new technologies here.

Investment connection activities are implemented in a variety of ways, online and offline, according to problem clusters, oriented according to suggestions from users and investors, instead of suggestions from startups. Individual investors, individual investment funds or venture capital funds can access the most complete innovation ecosystem, as a premise for investment deals, technology transfer contracts, research results trading... "TECHFEST hopes to create a long-term connection network after the event, in which the Ministry and Hanoi City play the role of a platform to support the deals" - Mr. Quat said.

TECHFEST 2025 is organized by the Ministry of Science and Technology in coordination with the Hanoi People's Committee, taking place from December 12 to 14 in the Hoan Kiem Lake walking street area. The event is expected to attract more than 60,000 attendees, with many outstanding activities such as the National Policy Forum, international cooperation on investment in innovative startups, the Final Round of the National Innovation Startup Talent Search Competition 2025, Exhibition of innovative startup products and services, and a series of international seminars.

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