Asia Business Channel

WEF Survey: Vietnam in third place for entrepreneurial spirit in the ASEAN region

 

According to 56,000 people who were surveyed by the World Economic Forum (WEF), Vietnam ranks third among six ASEAN countries in terms of the proportion of young people aspiring to become entrepreneurs and business owners.

The WEF survey was designed to gather and analyze views on the future of work, skills and technology of people who are 15-35 years of age, and was conducted in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

The WEF survey asked participants, who are considered ‘young ASEAN citizens’ about the type of company or organization they work for today, and where they would like to work in the future. According to the survey results, ASEAN youths have a strong preference for entrepreneurship and want to work for themselves.

People who currently work for themselves or would like to:


ASEANYouth2
WEF survey results of “Young ASEAN Citizens” who want to be a entrepreneurs in the future


Additional conclusions from the survey:

• 26% of respondents work for themselves, a slight increase from the previous year

• 31.4% of respondents are entrepreneurs or working for start-ups

• 18.8% of respondents would like to work for a foreign multinational in the future – more than twice the current rate of 8.6% who are currently doing so

• 18.3% of respondents work for Small and Medium sized Enterprises (SMEs)

• Only 7.5% of respondents want to work for SMEs in the future

What are the job skills that will be most valuable in the future?

• Emotional intelligence

• Resilience and adaptability

• Science, Technology, Engineering & Math (STEM)

The WEF said in its survey that given the importance that “Young ASEAN Citizens” place on developing both their hard and soft skill sets, SME’s should address their current and future human resources challenges by focusing on education and training as a key company attribute. Forward thinking companies, whether SME’s or MNC’s will train workers with the skills they will need today as well as in the future so that worker opportunities can be maximized.




 Editors Note:

 To read the WEF’s report...ASEAN Youth – Technology, Skills and the Future of Work...CLICK HERE!



 

 

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