Sunday, December 11 2016

VietNamNews

Businesses urged to actively join global supply chains

Update: December, 01/2016 - 09:00
President Trần Đại Quang (second left) meets a delegation of businesses that won the National Brand Awards 2016 at the Presidential Palace in Hà Nội yesterday. — VNA/VNS Photo Nhan Sáng
Viet Nam News

HÀ NỘI – Businesses should actively engage in global supply chains, maintaining growth in both revenue and profit, and securing their firm foothold at home and abroad, together with producing high-quality and competitive products.

President Trần Đại Quang made the suggestion while receiving a delegation of businesses that won the National Brand Awards 2016 in Hà Nội yesterday. He spoke highly of the national brand winners’ efforts to improve their products’ prestige and trademarks, saying that they have confirmed their pioneering role in production and business, contributing to the country’s development.

According to the State leader, the extensive and intensive international integration and engagement in new-generation free trade agreements have opened up a new development horizon for Việt Nam’s economy. However, it also poses a lot of difficulties and challenges for the country.

He called on businesses to push ahead with manufacturing activities and pursue values that the National Brand programme is targeting, including quality, innovation, creativity and pioneering, while ensuring the quality of products via advanced production systems and healthy finances.

The President suggested promoting innovation, applying state-of-the-art science and technology to increase productivity and competitive edge as well as embracing connectivity and forming domestic and regional production value chains. He asked the National Brand Council, the Ministry of Industry and Trade, and relevant ministries and sectors to proactively remove difficulties for businesses, reform administrative procedures, and create a favourable business environment.

The National Brand Award has been granted to enterprises once every two years since 2008 to encourage them to pursue values set by the National Brand programme.

This year, 88 businesses in various fields were awarded the National Brand Awards, of which 23 firms have won the title for five consecutive years, including big names like Việt Tiến Garment Joint Stock Company (JSC), An Phước Group, Saigon Beer-Alcohol-Beverage JSC, Vina Coffee, Commercial Bank for Foreign Trade of Vietnam JSC, Vietnam Posts and Telecommunications Group and Saigon Jewellery JSC. 

Seventy of the awarded firms have annual revenue of at least VNĐ1 trillion (US$44 million) while 26 firms enjoy annual revenue of at least VNĐ5 trillion ($220 million).

In 2015, their combined exports were worth more than $2 billion. They also contributed over VNĐ59 trillion ($2.6 billion) to the State budget, and created nearly 500,000 jobs. – VNS

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