Hai Phong taps youth potential to boost private sector growth
The private sector is increasingly asserting its role as a key growth driver in Hai Phong, supported by the city’s Youth Union and Young Entrepreneurs' Association.
Daring to think, daring to pioneer
Hai Phong is among the fastest-growing localities in Vietnam in terms of gross regional domestic product (GRDP). Within that overall success, young-led businesses are leaving an increasingly strong imprint. No longer confined to traditional trade, young entrepreneurs in the port city are expanding into key sectors such as steel production, logistics, technology and high-end services.
Many are also investing in more challenging fields such as heavy industry and high technology, demonstrating a willingness to take risks and pioneer new directions.
A notable example is Dang Viet Bach, Chairman of Vietnam–Japan High-Quality Steel JSC. Under his leadership, the company has not only weathered fluctuations in the global steel market but also taken the lead in shifting towards greener production and modernizing technology to protect the environment, a pressing requirement for the port city in its next development phase.
Similarly, Do Van Hieu, Director of SUNGO Event and Media Co., Ltd., has affirmed its position in Hai Phong’s cultural and events industry, driven by creative thinking and the application of digital technology in management.
On Aug. 20, 2025, the Hai Phong Young Entrepreneurs' Association organized a regional private sector economic forum for the Red River Delta cluster, drawing more than 300 delegates, including local leaders and a large number of businesses. The forum was a practical step in implementing a Politburo resolution on private sector development, while also providing a platform for dialogue, networking and proposing solutions to promote sustainable growth.
Building on the forum’s outcomes, many young businesses in Hai Phong have proactively adopted digital transformation, optimized management processes and enhanced competitiveness, enabling them to participate more deeply in global supply chains.
A “lever” from support
To tap youth potential, the Hai Phong Youth Union has effectively rolled out programs to support start-ups, shifting from broad-based movements to building a more substantive ecosystem of linkages.
During a working visit to Hai Phong, Bui Quang Huy, First Secretary of the Ho Chi Minh Communist Youth Union, stressed the need to develop a start-up ecosystem linked to digital capacity. The city’s Youth Union has promoted the approach of expanding outreach to workers, young intellectuals and entrepreneurs.
Start-up competitions and forums such as “Connecting Gen Z with future careers” have served as platforms not only for exchange but also for turning bold business ideas into reality.
Coordination between the Youth Union and the Young Entrepreneurs Association has created a “value chain” for young people — from ideas formed in schools to business establishment and integration into the wider business community.
Nguyen Thi Thuy, secretary of the Hai Phong Youth Union, said digital transformation and innovation are central priorities, with the Youth Union acting as a bridge to help young people access preferential loans, legal advice and connections with experienced entrepreneurs.
Looking ahead to 2025–2030, seen as an acceleration phase, Hai Phong will require more young entrepreneurs to take the lead in emerging sectors such as artificial intelligence, the circular economy and high-quality port services, as the city targets an economic scale of USD 30 billion.
Hai Phong News