A Vietnam Dairy Products (Vinamilk) booth at an F&B exhibition in Thailand. Vinamilk is one of major Vietnamese to have sucessfully expanded its brand in foreign markets. (Photo: VNA) HCM City (VNS/VNA) - Vietnamese enterprises must develop globally competitivebrands if they want to succeed internationally, speakers said at a conferenceon domestic trademarks held recently in Ho Chi Minh City.
Economist Le Dang Doanhsaid that most Vietnamese farm produce and seafoodexported through unofficial channels had no brand names and thussuffered from low export prices.
“A strong and competitiveeconomy has many large businesses with strong international brands,” henoted, adding that brand development, however, was not the strengthof Vietnamese enterprises.
Vietnam is among theworld's largest exporters of farm produce and seafood, but few foreignconsumers know they're using products from Vietnam, he said.
“These products areexported without brand names on the packaging. More than 70 percent ofVietnamese exports are from foreign direct invested companies,"he explained.
A representative of theUS-based Global Home Visa LLC, who wished to remain anonymous, saidthat Vietnamese enterprises must have good financial and humanresources to build brand names in the US market.
Vietnamese exportersmust also be knowledgeable about importing countries' lawsand regulations on intellectual property, safety and quality ofproducts, he said.
“With a strict marketlike the US, enterprises should learn about labeling, packagingand procedures for registering trademark protection,” he added.
To enter the US market,Vietnamese brands also need to be protected from violations made by othercompetitors.
Bui Hoang Yen, deputyrepresentative of the Office of Trade Promotion Department in HCM City,noted that the newly signed free trade agreements (FTAs) would offergreat opportunities for Vietnam to export products to more than 100countries.
However, exporterswill face increasing trade protectionism and non-tariff barriers aswell as stricter standards, especially on food safety andenvironmental protection.
Vietnamese goodssometimes fail to meet export standards, especially in strictmarkets like the US, the EU and others.
A programmeon high-quality product production should be implemented byState management agencies, she said.
FTAs have opened up tradefor domestic companies, but they have also allowed more foreignbrands to enter the local market, creating fierce competition,experts said.
A good product witha good trademark will live forever in the heart of consumers, theynoted. To build and protect brands, enterprises must invest instandardised production processes, market development, communication andmarketing.
Experts also warned thatsocial media and wide usage of IT around the world can be beneficial forbuilding brands, but can also carry risks if comments about products arenegative.
The event was organisedby the Research Centre for Developing Vietnamese Brands.-VNS/VNA
VNA
