Vietnam News, 6 August 2015. Vietnamese firms still fail to leave their mark.

An edited extract of the original article is reproduced below.

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Vietnamese businesses have yet to pay adequate attention to building trademarks, especially in the context of integration and increasing competition, said Lai Tien Manh from Brand Finance.

Manh told the 2015 Viet Nam Trademark Forum as part of the “Proud of Vietnamese trademarks” held in Ha Noi on Tuesday that by last year, the value of Vietnamese brandnames had increased by 30 per cent to US$172 billion. Viet Nam was placed 42nd among 100 countries in the world and 15th in Asia.

Within the ASEAN bloc, Viet Nam was ranked sixth in the field, after Singapore, Thailand, Indonesia, Malaysia and the Philippines.

He noted that Viet Nam has been in top 10 countries that showed fastest improvement in national trademarks in 2013-14.

However, only a few trademarks actually rose to international level, such as Viettel [Ed’s note, the General Director of the Viettel Group, Nguyen Manh Hung is an Australian Alumnus from the University of Sydney], while most enterprises remained hesitant to make their mark at the global level, he added.

He said Viet Nam exported several key items such as agricultural products and seafood, but businesses have failed to build a trademark in exports but do so in case of raw materials.

“Investing in building national trademarks is an important factor to increase competitiveness of the Vietnamese enterprises as it could affect the balance of payments by impacting investment, capital attraction and export promotion. That is why companies should invest in building trademarks with a specific target,” he said…

 

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