Wednesday, December 7 2016

VietNamNews

Brands aim to boost name ahead of TPP

Update: April, 04/2016 - 09:59
Speaking at a conference held to connect companies in TPP member countries by the HCM City Enterprise Association, deputy chairman of the business group, Phạm Ngọc Hưng, said the TPP would make competition tough in the domestic market when products from many countries are imported cheaply. — Photo baodautu

HCM CITY (VNS) — Product quality and brand names are two key requirements for Vietnamese companies to compete when the Trans-Pacific Partnership (TPP) is enforced, a conference heard in HCM City yesterday.

Speaking at a conference held to connect companies in TPP member countries by the HCM City Enterprise Association, deputy chairman of the business group, Phạm Ngọc Hưng, said the TPP would make competition tough in the domestic market when products from many countries are imported cheaply.

With a small domestic market, Vietnamese companies should therefore find ways to enter other member countries. To compete there, quality and service must be the first priority, he added.

Many companies do not yet focus on quality, he warned.

Besides quality, they also need to focus on developing brand names, he said.

Vietnamese companies should establish links among themselves to exchange information about foreign markets and their regulations.

Discussing ways to obtain information about companies and products, the conference heard that an online database where companies can share information about themselves is required.

Minh Phạm, director of Minh Phạm and Brothers Company, said exporters often need to open an office in foreign countries, which is a big challenge for Vietnamese companies, especially small and medium-sized enterprises, due to the high costs involved.

In Việt Nam, a website called www.nocndeal.com has been set up for companies to upload information about themselves so that prospective partners can find them.

An association spokesperson said the website would be promoted in the future among companies in the city and elsewhere in the country. — VNS

 

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