Monday, October 24 2016


Firms urged to develop global brand recognition

Update: July, 30/2015 - 09:10
Saigontourist Company showcases its products and services at an exhibition. Enterprises are urged to attach special importance to building their brand names. — Photo

DA NANG (VNS) — Enterprises were urged to attach special importance to building their brand names during a seminar held in the central city of Da Nang yesterday.

Do Kim Lang, the deputy head of the Viet Nam Trade Promotion Agency (Vietrade), said brand names were important in helping companies maintain and expand markets both domestically and abroad, as well as in resisting unhealthy competition.

The importance must especially be highlighted now when local firms were facing stiff competition right at home, as the country was getting more and more integrated into the global economy, he said.

"Worldwide countries in general and ASEAN nations in particular are racing in enhancing competition capacity, considering trade name development a core engine. Still this issue is receiving inadequate attention in Viet Nam," he added.

Lang said enterprises whose names have been recognised in the National Trade Promotion Programme, which has been organised every two years since 2008, are mostly major firms.

Small- and medieum-sized companies, with capacity remaining inadequate, have not yet been able to build such a national name.

Some companies, which have already achieved the national brand names, still show limited ability in laying their footprints in international markets due to a lack of mutual linkages.

Thach Bich Mineral Water Factory Director Ho Van Van said his firm has continuously tried to improve the quality of products, and its name has been nationally acknowledged last year as part of the effort.

The company currently sells 20 kinds of products in different markets, including India, Nepal, Malaysia, Cambodia and the Philippines. But like other local soft drink firms, it has to compete with international businesses in terms of product quality, prices as well as technology.

Increasing mergers and acquisitions in this industry over the last few years have made it even more difficult for the domestic firms to develop national names, Van added.

Bernd Khunemund, a senior marketing and brand name consultant from Germany, suggested that Viet Nam should build a clear strategy for trade name development. The strategy should embrace marketing ideas for specific firms and products, promotion channels, as well as human resources.

Enterprises must show a vital role in this process by renewing their products to meet international demand, he noted.

Deputy Prime Minister Hoang Trung Hai said at a Vietrade's event earlier this month that trade promotion activities should focus on enhancing the export of key Vietnamese products, and the consumption of local products in home markets.

Viet Nam is aiming to develop a Vietnamese rice brand that would become the world's leading rice by quality and food hygiene by 2030, under a project approved by the Government in May.

The Viet Nam's 2014 Favourite Brand Name, an annual award determined by a nationwide customer vote, was awarded in January to such businesses as Saigontourist, Saigon Co-op, Vinasun and Saigon Petro. — VNS

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