Policymakers and economists have advised Vietnamese businesses to have new strategic thinking about the building of trademarks in the context of international integration.
Nguyen Manh Hung, Vice President and Secretary General of the Vietnam Standards and Consumer Rights Protection Association, says the open-door economic policy provides many opportunities for foreign products to penetrate the domestic market. Success stories of FPT and Trung Nguyen (Highland) Coffee show that local businesses can do the same if they know how to upgrade their technological facilities, and improve the quality of products and services.
FPT Group Vice President Nguyen Huu Thai Hoa insists that businesses need to be self-reliant in their approach to markets in the world.
Vissan Company General Director Van Duc Muoi emphasises that Vietnam’s entry to the World Trade Organisation (WTO) makes it possible for businesses to gain a leg up on international competition.
Muoi proposes restructuring the agricultural sector to promote regional trademarks and lay a firm foundation for economic and business growth in the future.
Economist Bui Kien Thanh says Vietnam cannot build global trademarks if intellectual property rights continue to be violated and the financial system fails to meet business demand for capital.
The Government has established an export coordination centre to assist domestic businesses in their approach to international economic groups.
Thanh says Vietnam’s export turnover can surpass the 2012 level of US$118 billion if businesses regularly get updated on international market trends as well as specific economic and commercial regulations.
Thai Hoa notes that many big businesses remain optimistic about their capacity to weather the storm. Even when they are pushed to the brink of bankruptcy they will find new ways.
National Assembly Economic Committee Vice Chairman Nguyen Duc Kien says national economic growth must be closely associated with the development of businesses. The Government should find proper solutions to support them in playing the game, according to the rules of the market economy.
Other News
- Vietnam, Brazil: Building bridges through shared history and new partnerships
- Hanoi to attract tourists by showcasing local specialties at wholesale markets
- National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
- Vietnamese goods in rising demand among Hanoi residents
- Hanoi unveils 2024 rural industrial plans
- Hanoi advances supporting industries for hi-tech services
- Vietnam’s economy remains resilient amid global uncertainties: ADB
- Vietnam’s 9-month fruit and veggie exports match last year's sales
- Growing interest from Chinese investors in Vietnam’s market
- Hanoi Supporting Industry Fair 2024 draws big business
Trending
-
Prime Minister leaves Hanoi for regional events in China
-
Vietnam news in brief - November 5
-
Hanoi embraces digital transformation in agriculture
-
Hanoi seeks partnerships to build skilled workforce for digital transformation
-
Adorable baby hippo wows Hanoi visitors
-
Localizing idols: Vietnam’s shift from Hallyu to homegrown stars
-
Hanoi plans major upgrade for iHaNoi by 2026
-
Berlin Film Festival award-winning motion picture premieres in Vietnam
-
Love triangle drama opens Hanoi Open Stage Festival