Overview of the signing ceremony.

According to the agreement, the Vietnam-Singapore Friendship Association and Viet Lotus Joint Stock Company will coordinate to support social enterprises.

Social enterprises are companies whose projects provide solutions for technical improvement, application of science and technology, and improvement of production and business organization. They research and manufacture new products, and develop markets to meet domestic consumption needs. They also create jobs for local workers, people with disabilities, and people who have lost their jobs due to the Covid-19 pandemic.

The Vietnam-Singapore Friendship Association and Viet Lotus Joint Stock Company will support young people and women who face difficulties while starting a social enterprise. Such difficulties can arise from developing capital to implement business ideas, choosing the right business model, training on business operation, and calling for investment capital and the market.

The project priorities companies in trade and investment; science and technology; education and training; culture and tourism; health and environmental protection; innovation and creativity.

Speaking at the signing ceremony, Vice President and General Secretary of the Vietnam-Singapore Friendship Association Nguyen Duc Hung said: "The agreement represents the Association's commitment to contribute together with the State and the business community to support/sponsor for start-up social enterprises. It helps them master the domestic market and confidently reach out to the international market, with appropriate, breakthrough, and effective technology and management solutions."

Nguyen Duc Hung, Vice President and General Secretary of the Vietnam-Singapore Friendship Association spoke at the event.

Dang My Chau, Deputy General Director of Viet Lotus Joint Stock Company, said the company would support to call for investment capital, market development, legal advice, copyright registration, intellectual property, research, and development of new products.

They will support the application of technology solutions to improve labor productivity as well as product quality, attracting customers. Social enterprises will be supported with workspace and other necessary services.

In terms of platform building, Viet Lotus wishes to cooperate with the Vietnam-Singapore Friendship Association to build a platform that connects businesses' activities with the business environment. This helps keep pace with modern technology trends, creating a dynamic and sustainable model.

Cooperation agreement between Vietnam-Singapore Friendship Association and Viet Lotus Joint Stock Company.

Nguyen Manh Cuong, deputy director of the Southern Affairs Department, Ministry of Science and Technology, said that to have a sustainable economy, all sectors of the economy need attention, and have the opportunity to access the latest development tools today.

In many countries around the world, social enterprises have had a clear development scale. However, in Vietnam, there are still many difficulties, especially when young people start a business.

Therefore, Cuong appreciates the idea and purpose of the cooperation agreement between the Vietnam-Singapore Friendship Association and the Viet Lotus Joint Stock Company.

Deputy Director of Southern Affairs Department, Ministry of Science and Technology is committed to helping and accompanying the program for the common and harmonious development of the community.

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