This is an undeniable fact, as admitted by many managers.
Nguyen Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), refers to the results of a recent Asian trademarks survey based on four criteria: friendliness, utility, creativeness and breakthrough capacity. To develop sustainably and penetrate international markets, she says, companies must focus on building brand names overseas.
Although Vietnam has a wide range of products exported to different countries many brand names are not recognized internationally. For example, Vietnam currently ranks fifth in the world in terms of tea production volume and export value but the origin of its tea products is not widely known, Hang says.
Doan Anh Tuan, President of the Vietnam Tea Association, points out that this is one reason why Vietnamese tea is just half priced lower than it is worth, compared to the same product from Sri Lanka. Another reason is that 99 percent of Vietnamese tea exports remain in unprocessed form.
Tuan also emphasizes building brand names for all Vietnamese tea exporters as an urgent task. If not, they will find it very difficult to negotiate trade contracts.
Cao Sy Kiem, President of the Vietnam Small-and Medium-Sized Enterprise Association, says many domestic businesses have had to either let their products bear foreign brand names or simply export raw materials to be re-processed and exported through a third country.
Kiem says protecting trademarks is a decisive factor in making successful deals. Companies should build up their own brand names overseas by improving the quality, competitive value and distinct design of their products.
Other experts say for lack of due attention to developing strong trademarks, domestic companies often find themselves at a disadvantage, even on home turf. In the meantime, management authorities are not really involved in helping them protect their creative values.
Lawrence Chong, CEO of Singaporean trademark consultants Consulus, says Vietnamese companies do not have skills in building trademarks and nor they know how to develop modern business models in the process of international integration. After developing brand names for products and chain stores, several domestic companies quickly sold them to larger foreign ones.
The Singaporean market is flooded with handicrafts bearing Vietnamese brand names, but most of the goods are sold by local companies, which can make a profit five times higher than in Vietnam, Chong says.
Chong advises that when owning a strong brand name, Vietnamese companies should think of developing long-term strategies and applying international trading models to further promote their trademark and export business, instead of selling it straight to international M&A companies.
Lawrence Chong affirms that building successful trademarks is not just a matter of taking part in advertising campaigns, but business leaders must also find ways to profit more from value-added products.
Dang Le Nguyen Vu, CEO of Trung Nguyen Coffee Group, says that to build a domestic trademark system and gain a firm foothold against fierce competition, all companies should consider protecting national trademarks as important as ensuring the sustainable growth of the national economy. The State should also coordinate with businesses and economic and legal management agencies to devise a comprehensive mechanism for dealing with trademark infringements in a timely manner.
VOV
Building a domestic trademark system
Most Vietnamese companies have paid little attention to registering their brand names on the domestic market and some well-known names have already been used by foreign enterprises on the international market.
This is an undeniable fact, as admitted by many managers.
Nguyen Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), refers to the results of a recent Asian trademarks survey based on four criteria: friendliness, utility, creativeness and breakthrough capacity. To develop sustainably and penetrate international markets, she says, companies must focus on building brand names overseas.
Although Vietnam has a wide range of products exported to different countries many brand names are not recognized internationally. For example, Vietnam currently ranks fifth in the world in terms of tea production volume and export value but the origin of its tea products is not widely known, Hang says.
Doan Anh Tuan, President of the Vietnam Tea Association, points out that this is one reason why Vietnamese tea is just half priced lower than it is worth, compared to the same product from Sri Lanka. Another reason is that 99 percent of Vietnamese tea exports remain in unprocessed form.
Tuan also emphasizes building brand names for all Vietnamese tea exporters as an urgent task. If not, they will find it very difficult to negotiate trade contracts.
Cao Sy Kiem, President of the Vietnam Small-and Medium-Sized Enterprise Association, says many domestic businesses have had to either let their products bear foreign brand names or simply export raw materials to be re-processed and exported through a third country.
Kiem says protecting trademarks is a decisive factor in making successful deals. Companies should build up their own brand names overseas by improving the quality, competitive value and distinct design of their products.
Other experts say for lack of due attention to developing strong trademarks, domestic companies often find themselves at a disadvantage, even on home turf. In the meantime, management authorities are not really involved in helping them protect their creative values.
Lawrence Chong, CEO of Singaporean trademark consultants Consulus, says Vietnamese companies do not have skills in building trademarks and nor they know how to develop modern business models in the process of international integration. After developing brand names for products and chain stores, several domestic companies quickly sold them to larger foreign ones.
The Singaporean market is flooded with handicrafts bearing Vietnamese brand names, but most of the goods are sold by local companies, which can make a profit five times higher than in Vietnam, Chong says.
Chong advises that when owning a strong brand name, Vietnamese companies should think of developing long-term strategies and applying international trading models to further promote their trademark and export business, instead of selling it straight to international M&A companies.
Lawrence Chong affirms that building successful trademarks is not just a matter of taking part in advertising campaigns, but business leaders must also find ways to profit more from value-added products.
Dang Le Nguyen Vu, CEO of Trung Nguyen Coffee Group, says that to build a domestic trademark system and gain a firm foothold against fierce competition, all companies should consider protecting national trademarks as important as ensuring the sustainable growth of the national economy. The State should also coordinate with businesses and economic and legal management agencies to devise a comprehensive mechanism for dealing with trademark infringements in a timely manner.
VOV
This is an undeniable fact, as admitted by many managers.
Nguyen Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), refers to the results of a recent Asian trademarks survey based on four criteria: friendliness, utility, creativeness and breakthrough capacity. To develop sustainably and penetrate international markets, she says, companies must focus on building brand names overseas.
Although Vietnam has a wide range of products exported to different countries many brand names are not recognized internationally. For example, Vietnam currently ranks fifth in the world in terms of tea production volume and export value but the origin of its tea products is not widely known, Hang says.
Doan Anh Tuan, President of the Vietnam Tea Association, points out that this is one reason why Vietnamese tea is just half priced lower than it is worth, compared to the same product from Sri Lanka. Another reason is that 99 percent of Vietnamese tea exports remain in unprocessed form.
Tuan also emphasizes building brand names for all Vietnamese tea exporters as an urgent task. If not, they will find it very difficult to negotiate trade contracts.
Cao Sy Kiem, President of the Vietnam Small-and Medium-Sized Enterprise Association, says many domestic businesses have had to either let their products bear foreign brand names or simply export raw materials to be re-processed and exported through a third country.
Kiem says protecting trademarks is a decisive factor in making successful deals. Companies should build up their own brand names overseas by improving the quality, competitive value and distinct design of their products.
Other experts say for lack of due attention to developing strong trademarks, domestic companies often find themselves at a disadvantage, even on home turf. In the meantime, management authorities are not really involved in helping them protect their creative values.
Lawrence Chong, CEO of Singaporean trademark consultants Consulus, says Vietnamese companies do not have skills in building trademarks and nor they know how to develop modern business models in the process of international integration. After developing brand names for products and chain stores, several domestic companies quickly sold them to larger foreign ones.
The Singaporean market is flooded with handicrafts bearing Vietnamese brand names, but most of the goods are sold by local companies, which can make a profit five times higher than in Vietnam, Chong says.
Chong advises that when owning a strong brand name, Vietnamese companies should think of developing long-term strategies and applying international trading models to further promote their trademark and export business, instead of selling it straight to international M&A companies.
Lawrence Chong affirms that building successful trademarks is not just a matter of taking part in advertising campaigns, but business leaders must also find ways to profit more from value-added products.
Dang Le Nguyen Vu, CEO of Trung Nguyen Coffee Group, says that to build a domestic trademark system and gain a firm foothold against fierce competition, all companies should consider protecting national trademarks as important as ensuring the sustainable growth of the national economy. The State should also coordinate with businesses and economic and legal management agencies to devise a comprehensive mechanism for dealing with trademark infringements in a timely manner.
VOV
