Promoting the 'SME House' startup support model through Vietnam - Azerbaijan cooperation

(Chinhphu.vn) - One of the highlights of the Forum is the proposal to promote the "SME House" model - an integrated startup support center, which can play a role as the nucleus for developing an innovative business ecosystem in Vietnam.

Deputy Minister of Industry and Trade Nguyen Hoang Long speaks at the Forum - Photo: VGP/Vu Phong

On the afternoon of July 16, within the framework of the first meeting of the Vietnam - Azerbaijan Business Council, the Vietnam - Azerbaijan Business Forum 2025 officially took place in Hanoi. The forum was organized by the National Startup Association in coordination with the Ministry of Industry and Trade of Vietnam and the Ministry of Economy of Azerbaijan, under the chairmanship of senior management agencies of the two countries.

With the theme "Converging investment resources to develop the national innovation and startup ecosystem in the digital economy era", the Forum focuses on key contents such as connecting businesses - investors - management agencies; promoting cooperation in digital transformation, e-commerce, information technology, logistics, healthcare andeducation ; and at the same time, making recommendations on strategic and long-term startup support policies.

One of the highlights of the Forum is the proposal to promote the "SME House" model - an integrated startup support center, which can play a role as a nucleus for developing an innovative business ecosystem in Vietnam. This is also a premise for the two sides to consider periodically organizing the Vietnam - Azerbaijan Startup and Investment Forum, creating a platform for strategic dialogue between the business communities of the two countries.

New impetus for bilateral economic cooperation

Speaking at the Forum, Deputy Minister of Industry and Trade Nguyen Hoang Long stated that Vietnam-Azerbaijan economic relations are flourishing, especially in the field of trade. In 2024, two-way trade turnover reached about 52 million USD, although still modest, but the recovery rate is very positive. In the first quarter of 2025, this figure exceeded 100 million USD, reflecting great potential for cooperation, especially when the two countries have highly complementary economic structures.

Specifically, Vietnam has strengths in industries such as textiles, food processing and high-quality agricultural products - items with great opportunities in the Azerbaijani market. In return, Azerbaijan can provide crude oil, cotton and industrial raw materials - essential factors for Vietnam's production. This is an important basis for the two sides to promote supply chain connectivity and two-way investment cooperation.

Delegates attending the Forum - Photo: VGP/Vu Phong

Representing Azerbaijan, First Deputy Minister of Economy Elnur Aliyev said that Azerbaijan and Vietnam have existing agreements on aviation services and transport cooperation; in addition, in May 2025, the two sides signed a new memorandum of understanding on technology and digital development. This cooperation fits into Azerbaijan's broader vision of becoming a major regional hub.

According to Mr. Elnur Aliyev, today, Azerbaijan is strategically located at the crossroads of Europe and Asia and plays an important role in the Central Corridor initiative. "Azerbaijan continues to develop and diversify its economy. Over the past three decades, the country has attracted more than $360 billion in investments, with real GDP tripling between 2004 and 2024. We are also proud to offer a dynamic investment environment through the Alat Free Economic Zone (AFEZ) and a network of industrial parks, where we provide the most favorable legal framework possible," Mr. Elnur Aliyev emphasized.

SME House – An Open Model for Vietnam

It can be affirmed that SME House is a very typical and useful model for business development in Vietnam, in line with the orientation of our Party and State. Specifically, Resolution 57-NQ/TW of the Politburo (issued in December 2024) has proposed breakthroughs in science and technology, innovation and national digital transformation. At the same time, Resolution 68-NQ/TW (5/2025) on private economic development sets a target of having 2 million active enterprises in Vietnam by 2030, an increase of about 1 million enterprises compared to the present. These major policies demonstrate Vietnam's determination to create a favorable ecosystem for businesses to develop rapidly and sustainably.

Dr. Dinh Viet Hoa, Chairman of the National Startup Association, emphasized that Azerbaijan's SME House model, with its integrated approach to supporting businesses from incubation to maturity, is completely similar to that orientation.

"The National Startup Association has researched and considered SME House as a valuable reference model in the plan to develop the Vietnamese business ecosystem in the period of 2025 - 2030, aiming for the goal of 2 million businesses by 2030. The Vietnam - Azerbaijan Business Forum 2025 is a new step in the strategy of connecting Vietnam's innovation ecosystem globally," said Mr. Hoa.

The Vietnam-Azerbaijan Business Forum 2025 is not only an exchange event, but also a strategic step in connecting Vietnam's innovation ecosystem with the world. Through potential partners like Azerbaijan, Vietnam can boost technology investment, accelerate digital startups, and gradually improve national competitiveness in the context of deep globalization.

Anh Tho

Source: https://baochinhphu.vn/thuc-day-mo-hinh-ho-tro-khoi-nghiep-sme-house-thong-qua-hop-tac-viet-nam-azerbaijan-102250716174119491.htm