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Vietnam Today

Vietnam's trademarks worth $172 billion

Released at: 10:47, 06/08/2015

Vietnam's trademarks worth $172 billion

Value puts country in sixth place in ASEAN.

by Minh Tuyet

The value of Vietnam’s trademarks in 2014 was $172 billion, an increase of 30 per cent compared to 2013 and ranking the country sixth in ASEAN, according to the 2015 Vietnam Trademark Forum, which was organized by the Ministry of Industry and Trade (MoIT) and the National Council of Trademarks.

Despite the increase, Vietnamese enterprises are considered to still pay little attention to building their trademark even in the face of fierce competition during integration.

There are only a few Vietnamese trademarks reaching out to the world, such as Viettel and Vinamilk.

Experts at the forum said that Vietnam has many high-quality products but building trademarks still faces a lot of difficulties. Head of the Vietnam Trade Promotion Agency (VIETRADE) under MoIT, Mr. Bui Huy Son, said that Vietnamese enterprises have changed their attitudes towards building their trademark but their ability to do so is limited.

Therefore, the national trademark program will continue to support Vietnamese enterprises to achieve national standards, participate in national trade promotions, receive information on markets, and participate in training courses to develop their trademark.

The forum also heard solutions to improving the trademarks of Vietnamese enterprises. Enterprises must understand the role of trademarks and trends in consumer behavior, and it was suggested that trademarks target domestic consumers and then overseas consumers.

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