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HCM City wants its businesses to create global brands
Vietnam News - 12/22/2019 2:08:14 PM
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HCM 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, its leader has said.
 
Nguyễn Thành Phong, chairman of the city People’s Committee, told a conference yesterday (December 20), “Developing trademarks and brand names for enterprises and their products is a sustainable advantage for them to affirm their position.”
 
Before attracting foreign companies, the city needs to ensure local players improve their competitiveness, innovate and, especially, develop brands and trademarks, he added.
 
Trần Vĩnh Tuyến, people’s committee vice chairman, said when the city has famous trademarks and brand names, its image and products would become globally renowned.
 
He instructed the city Department of Industry and Trade to set up institute a programme for developing such trademarks and brand names.
 
Phạm Thành Kiên, 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.
 
Nguyễn Quốc Thịnh 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.  
 
Nguyễn Đức Sơn, 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 Võ Trí Thành, a senior economist at the Central Institute for Economic Management (CIEM) and a member of the National Financial and Monetary Policy, said the city’s programme for developing brand names and trademarks should dovetail with the national branding strategy.
 
The conference was organised by the city People’s Committee. VNS
 
Read original article here
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