» Today: 07/06/2023
Intellectual -Property
Challenges in building Vietnamese brands in the foreign countries
In today's development era, building a Vietnamese brand in foreign markets is a necessary condition to enhance its position and bring many practical competitive values to businesses. However, many businesses are struggling in this problem.

According to the Ministry of Industry and Trade, in the past three years, Vietnam's national brand value and ranking has continuously been among the world's strongest brands. According to the announcement of Brand Finance (the world's leading brand valuation company), in 2021, the Vietnamese national brand will continue to maintain the 33rd position in the list of the top 100 world strong brands, with an increase in value of 21.69% compared to 2020, from 319 billion USD to 388 billion USD.

Director of the Trade Promotion Department (Ministry of Industry and Trade) Vu Ba Phu affirmed that when a country has many businesses with strong brands, it will be an important foundation for raising the nation's brand. On the other hand, when the national brand is raised in the international market, it will create a guarantee of product reputation and quality, thereby improving the competitiveness of enterprises in goods export activities.

However, now many businesses are facing difficulties in building their brand in foreign countries. The reason is that enterprises often focus on developing production scale at the beginning to increase productivity and output, gradually shifting to focus on quality and finally improving added value. Therefore, the awareness of the role of brand development and affirmation is often not given due attention or it takes a lot of time to be focused.

Not only that, the process of building a Vietnamese brand is also facing many difficulties, especially small-scale production, food quality and safety issues, processing capacity and participation in the global value chain businesses is still limited.

Developing a brand and creating a place for themself requires a long-term investment to accurately assess the value brought by the brand in the total value of a business.

In addition, many Vietnamese enterprises with well-known trademarks are taken advantage of by foreign enterprises, thereby engaging in unfair competition practices, seriously affecting their reputation and production and business activities. Normally, well-known trademarks are only required to register for protection for the first time and there is no requirement that the owner/manufacturer must continue to register in any country to use the famous trademark. Thus, the owner wants to register the trademark or not completely depends on their will.

Therefore, Vietnamese enterprises that want to invest, do business effectively and develop sustainably need to register for protection of intellectual property rights in the domestics and foreign countries, thereby protecting their own intangible as well as tangible assets in the process of international integration.

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