A total of US$1 million was raised by Vietnam-based social commerce platform – Mio, together with Venturra Discovery and Golden Gate Ventures, in an initiative to encourage rural Vietnamese women to become micro-entrepreneurs. The newly raised capital will be allocated to hiring, product enhancement and distribution centre.
The Mio platform will assist the women in building, launching and promoting businesses online and leverage on social media platforms to market their products. With zero initial investment required, women can make up to US$300, with a 10 percent commission on each order.
Despite positive economic growth, Vietnam experiences macro-economic imbalances, manifested in several ways, including high inflation rates. Calling for new approaches and methods, the Vietnam government has implemented and encouraged businesses to help to improve the quality of life and economy in the rural areas.
Among Vietnam’s most important legal rural development policies that have been presented and implemented so far are the 2011-2020 SocioEconomic Development Plan (SEDP), the Policy Framework for the Implementation of the fiveyear plan 2006-2010, the Budget Law, Poverty resolution, GoV’s Decision 800 on NTP-NRD and the Law on Government organisation.