HCM City wants local businesses to create global brands

Ho Chi Minh City authorities are seeking to create favourable conditions for local businesses to develop trademarks and brands to compete with foreign rivals at home and abroad
hcm city wants local businesses to create global brands

Vissan is voted as one of the 27 most popular Vietnamese brand names in 2019 by Sai Gon Giai Phong (Liberated Sai Gon) newspaper’s readers. (Photo courtesy of the company)

Nguyen Thanh Phong, Chairman of the municipal People’s Committee, told a conference on December 20 that developing trademarks and brand names for enterprises and their products is a sustainable advantage for them to affirm their positions.

Before attracting foreign companies, the city needs to ensure local players improve their competitiveness, innovate and, especially, develop brands and trademarks, he added.

Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee, said when the city has famous trademarks and brand names, its images and products would become globally renowned.

He instructed the municipal Department of Industry and Trade to set up institute a programme for developing such trademarks and brand names.

Pham Thanh Kien, Director of the Department of Industry and Trade, said, “Enterprises with products which have trademarks and brand names can sustain rapid growth in turnover and profit.”

Not only large companies but also small and medium-sized ones should pay more attention to this, he said.

“The department will continue to assist and train enterprises to address their problems in developing brands and, especially, trademark registration.”

It would help businesses take part in city promotion programmes that provide loans for developing and acquiring technologies, expanding production and entering global supply chains, he said.

Nguyen Quoc Thinh of the Institute for Brand and Competitiveness Strategy said HCM City needs several large enterprises to take the lead in developing trademarks and brands and then train others in the task.

The city’s brand name would develop based on its businesses’ brand names and trademarks rather than famous destinations, he added.

Nguyen Duc Son, CEO of US company Richard Moore Associates and chairman of Plato Academy, said the city and enterprises should apply international standards and new methodologies in branding.

Dr Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy, said the city’s programme for developing brand names and trademarks should dovetail with the national branding strategy.

Source: VNA

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