Bridging the gap in finance, business and digital skills for women-owned micro, small and growing businesses in Vietnam
June 2024 – Project “Growing My Business: Capacity building and support for the development of small, micro and growing women-owned businesses in Vietnam” is being funded by the Asia Foundation and The Center for Women and Development (CWD) coordinates with microfinance organizations to implement efforts to narrow the growing gender gap in the fields of financial management, entrepreneurship and digital skills in Vietnam. Vietnam. With support from Payoneer, this initiative aims to reach and support 3,000 female entrepreneurs to develop their businesses and actively participate in the digital economy in the coming year.
The project strongly responds to Vietnam’s National Digital Transformation Program, in which the Vietnamese Government commits to achieving the dual goal of building a digital Government, digital economy and digital society; and form digital technology businesses with global competitiveness. Amid this inevitable trend, Vietnamese businesses are called to take the lead in digital transformation to promote Vietnam’s economic growth. However, Vietnamese businesses, especially household businesses, are facing great challenges due to a lack of knowledge, awareness and capacity. For female business owners, in addition to the digital skills gap, they also face many other barriers that make it difficult for them to participate in the digital economy, such as lack of connectivity. , capital resources and family work burden.
Faced with the above situation, the project will focus on providing training in fundamental business, digital, and financial knowledge for women running household businesses, micro, small, and developing enterprises. in disadvantaged regions in Vietnam – subjects lack access to the knowledge and skills necessary to digitalize and grow their businesses. In addition, the project is also interested in promoting initiatives that facilitate and support women in reducing the care responsibilities they are shouldering.
Mr. Filip Graovac, Deputy Chief Representative of the Asia Foundation Office in Vietnam said: “The Asia Foundation would like to thank Payoneer for the support. In the upcoming period, the program commits to reaching 3,000 business households, micro and developing enterprises owned by women in Vietnam. Besides basic business management skills, specifically business planning and sales skills, participating businesses, especially women-owned businesses, also need other support. such as improving foundational knowledge and skills to help them plan, select, access and use available financial services effectively in operating and expanding businesses. The “Grow My Business” program is designed to meet these needs through a combination of digital and financial skills training.”
According to Mr. Viet Vu, Country Director of Payoneer Vietnam office: “Payoneer is delighted to work with the Asia Foundation and Vietnamese partners on this project to equip skills and empower women in Vietnam. Vietnam. With the latest business knowledge and digital skills, businesses can grow faster and stronger in the digital economy. Through practical and in-depth training, we hope to increase the provision of tools and access to resources for women entrepreneurs, helping them run their businesses, utilize resources and strive to achieve success. The “Grow my Business” project will create a suitable environment and support in the community for those in need of help.”
The project in Vietnam is built on the successful implementation of the “Accelerate My Business” model in Malaysia and Indonesia. In Vietnam, through partnerships with local microfinance units to provide financial, business and digital education to women business owners and disadvantaged groups, the project hopes to contribute to the implementation of the National Digital Transformation Program, Startup Program and National Financial Inclusion Strategy in Vietnam.
