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Firms lack skills to build trademarks

Update: August, 20/2012 - 11:06

HA NOI — Vietnamese enterprises still lacked the skills to build their brands, as building a brand is a long, methodical process which demands that business leaders think very strategically, international and local experts said.

They made this statement at a conference on Viet Nam's trademark development in which more than 200 local businesses participated.

It was jointly organised by the Viet Nam Chamber of Commerce and Industry (VCCI) and the Singapore Consulus Trademark Consultant in Ha Noi on Thursday.

Nguyen Thi Thu Hang, VCCI General Secretary, said that a recent survey on Asian brands reported the leading brands in the region as judged by four major criteria: friendliness, convenience, creativity and innovation.

Under the survey, Vietnamese brands did not perform very well. They only satisfied two criteria, friendliness and convenience.

Helena Pham, Viet Nam market director of Consulus Co, said despite the economic crisis in the EU and the US, Asian economies have retained sustainable growth and the region now played a more significant role in global economic development.

Asia was expected to be a lucrative retail market, but there were too few brands coming from Asia, including Viet Nam. Business leaders should know how to derive higher profits, she added.

To expand business and build the prestige of their brands, companies usually hunt for investors.

However, foreign investors still hesitate to invest in Vietnamese firms because they are not very good at management.

If they want to attract foreigners, they should retain high-qualified leaders and enhance their management capacity in the eyes of international investors, experts said.

Director of Dinh Cao Moi Services Co, Vu Hanh Nga, affirmed that building a brand was a long and ceaseless process in which shortcuts could not be taken. It also involved building a culture of good business practices. — VNS

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