The Vietnam Association of Female Entrepreneurs is set to be launched on October 18, said Ho Thi Kim Thoa, deputy minister of Industry and Trade.

At an October 11 press conference to introduce the new body, Thoa said the establishing congress of the association is expected to draw the participation of 500 delegates. They will all be outstanding female entrepreneurs from across Vietnam.

President Truong Tan Sang met with Vietnamese businesswomen in 2013.

The association aims to boost the capacity and role of businesswomen, offer a venue to share experiences and improve professional knowledge. It will also protect the legitimate interests of female entrepreneurs and business people.

Thoa added that the association will also act as a bridge between the community of businesswomen and the government and relevant agencies.

At the press conference on October 11, Ha Thi Thu Thanh, chairman of Hanoi’s Female Entrepreneur Association, cited statistics from the Vietnam Chamber of Commerce and Industry which say that over the past 14 years, since the Vietnamese Law on Enterprises took effect, 20% of Vietnamese businesses are managed by women. To date, more than 40 clubs of female entrepresnurs have been established nationwide, but only the Hanoi association has legal status.

The Hanoi’s Female Entrepreneur Association has 218 members, 90% of which are the leaders of private firms.