However, the country’s creativity industry lacks the government attention required to nurture it. The small number of creative startups in Vietnam have received little to no incentives or support for development.
Upon his return to Vietnam after years of studying abroad, Trần Hoàng Kim decided to build a creative startup to provide open spaces for young people in Hanoi. Fortunately, he managed to meet people who shared the same ideas. These people later became his first investors.
The Creative City model was recently founded in Hanoi in order to satisfy young entrepreneurs' need for innovation. It has already achieved moderate success in making room for creative businesses, and also provides jobs for many young people.
Recognising the importance of future innovation within the creative industries, the government have formed specific guidelines and started working to facilitate the emergent industry. This new direction will help make innovation one of the driving forces for the sustainable development of Vietnam.
Increasing labour productivity through innovation and investing early in developing modern technology capabilities would certainly help boost Vietnam’s economic development and improve the position of Vietnamese enterprises in the global value chain. Though Vietnam still has a long way to go, these first steps taken by the country’s young intellectuals bring hope for a bright future ahead.
