“One-person business” model set to spur mass entrepreneurship

Vietnam targets 1 million one-person businesses, 5 million business entities, 10,000 tech startups, 45 startup support networks, a position among the world’s top 40 innovation ecosystems, and 1.5 billion USD in venture capital by 2030.

Vietnam is moving to pilot a “one-person business” model under its newly issued National Strategy on Innovative Startups, in a bid to accelerate growth, fuel innovation and strengthen national competitiveness.

The strategy outlines bold targets by 2030, including 1 million one-person businesses, 5 million business entities, 10,000 tech startups, 45 startup support networks, a position among the world’s top 40 innovation ecosystems, and 1.5 billion USD in venture capital.

0.png -0
Vietnam is moving to pilot a “one-person business” model under its newly issued National Strategy on Innovative Startups. Illustrative photo: VNA

By 2045, the country envisions a startup-driven economy as a core pillar, with one in 10 citizens engaged in entrepreneurship, one enterprise for every 35 people, one innovative startup per 5,000 people, and 10 billion USD in venture capital.

To kick-start this vision, the Government is prioritising the development of a pilot policy framework for the “one-person business” model.

Experts say household businesses still dominate Vietnam’s economic landscape but remain constrained in scaling up and integrating into modern value chains. The proposed model is expected to offer a more transparent, flexible alternative.

Deputy Minister of Science and Technology Hoang Minh described the model as vivid evidence of a new wave of mass entrepreneurship. Leveraging digital platforms, individuals can register, manage finances, fulfil tax obligations and run operations entirely online, making it a potential driver of digital economy growth.

Pham Duc Nghiem, deputy head of the ministry’s National Agency for Startups and Technology Entrepreneurship, noted that dynamic economies typically average around 30 people per enterprise, while a ratio above 60 may signal rising unemployment risks. Vietnam’s current ratio exceeds 100, underscoring the need to expand enterprise numbers, create jobs and tap into individual creativity through models like one-person business.

The ministry is working with the Ministry of Finance to streamline tax and reporting procedures, while pilot schemes are being developed in Hanoi, Ho Chi Minh City and Da Nang ahead of a nationwide rollout.

Meanwhile, Assoc. Prof. Dr. Nguyen Van Minh, Director of the Institute for Business Training and Consultancy at the Foreign Trade University, highlighted how rapid advances in digital technology and artificial intelligence are reshaping business models worldwide, with the emergence of “one-person billion-dollar companies” powered by automation.

He warned that businesses slow to adapt risk being left behind. In Vietnam, a growing number of freelancers in fields such as consulting, design and technology are already operating in ways akin to this model. Formalising and expanding it could help cultivate a new generation of flexible, creative and tech-savvy entrepreneurs.

VNA

Other News

Government urges vigilance as inflation pressures mount in H2

Government urges vigilance as inflation pressures mount in H2

The Government's inflation target remains within reach despite mounting headwinds. Several forecasts suggest inflation can stay below 4.5% this year if international oil prices continue to retreat. Extending domestic fuel tax incentives through year-end, along with stable electricity prices, healthcare fees and exchange rates, would offer additional relief.

Plan issued to develop agricultural logistics system

Plan issued to develop agricultural logistics system

A key target is that by 2030, all concentrated agricultural, forestry and fisheries production areas will have access to essential services, including product traceability, quarantine, testing, quality certification, processing and market development. The move reflects growing international demand for stricter food safety, quality and traceability standards, which have become increasingly important for agricultural exports.

Vietnam seeks stronger export growth in H2

Vietnam seeks stronger export growth in H2

Despite the encouraging performance, Vietnam's exports remain heavily dependent on a limited number of major markets and product groups, while the domestic value added of many export products remains relatively low because of their reliance on imported raw materials and components.

RoK picks Vietnam as K-Food logistics hub for ASEAN expansion

RoK picks Vietnam as K-Food logistics hub for ASEAN expansion

Demand for Korean food in Vietnam has continued to grow rapidly alongside the popularity of the Korean Wave, or Hallyu, making the country a strategic market in the RoK's plan to expand agricultural and food exports to ASEAN, the RoK's Ministry of Agriculture, Food and Rural Affairs said.

Nearly 68,000 smuggling, trade fraud, counterfeit cases uncovered in H1

Nearly 68,000 smuggling, trade fraud, counterfeit cases uncovered in H1

Authorities detected and handled 67,937 violations in the first half of the year, up 36.66% year-on-year. Budget revenue from enforcement reached nearly 9.65 trillion VND (nearly 367 million USD), an increase of 49.36%, while investigation was launched into 1,676 criminal cases involving 2,789 suspects.

Vietnam joins global push for energy efficiency

Vietnam joins global push for energy efficiency

Participation in the Montreal Declaration also provides a foundation for Vietnam to explore deeper engagement with the IEA's multilateral energy efficiency initiatives, offering opportunities to access data, policy experience, technical tools and public-private partnership models in energy conservation.

Vietnam's Q2 GDP rises 8.39% amid broad-based economic growth

Vietnam's Q2 GDP rises 8.39% amid broad-based economic growth

Releasing the country's socio-economic data for the second quarter and the first half of the year on July 3, NSO Director Nguyen Thi Huong said Vietnam sustained positive growth across most industries and sectors despite a challenging international economic environment.

Public-private partnerships drive low-emission rice farming

Public-private partnerships drive low-emission rice farming

Experts agreed that integrating nutrient management, biotechnology, mechanisation and digital technologies will enhance productivity, reduce greenhouse gas emissions and accelerate the transition towards greener, more sustainable rice production.

Vietnam's tilapia exports maintain strong growth

Vietnam's tilapia exports maintain strong growth

Vietnam's tilapia export revenue in the first five months of 2026 hit 62 million USD, more than doubling that in the same period last year, reflecting a strong recovery in international demand

Vietnam's domestic carbon exchange launched

Vietnam's domestic carbon exchange launched

The carbon exchange creates a mechanism that enables businesses to optimise emission-reduction costs through trading emission quotas and carbon credits, encourages technological innovation, and supports sustainable development while maintaining the principle of not sacrificing the environment for economic growth.

SBV raises short-term capital lending cap to 40%

SBV raises short-term capital lending cap to 40%

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Business confidence in Vietnam rebounds strongly: UOB

Business confidence in Vietnam rebounds strongly: UOB

The study found that 85% of Vietnamese enterprises reported positive business sentiment, a sharp increase from 48% in 2025, when business confidence was weighed down by uncertainties surrounding US tariff policies and related trade developments.