HCM City (VNA) – HoChi Minh City’s authorities are seeking to create favourable conditions forlocal businesses to develop trademarks and brands to compete with foreignrivals at home and abroad, its leader has said.

Nguyen Thanh Phong, Chairman ofthe municipal People’s Committee, told a conference on December 20 that developingtrademarks and brand names for enterprises and their products is a sustainableadvantage for them to affirm their positions.

Before attracting foreigncompanies, the city needs to ensure local players improve theircompetitiveness, innovate and, especially, develop brands and trademarks, headded.

Tran Vinh Tuyen, Vice Chairmanof the municipal People’s Committee, said when the city has famous trademarksand brand names, its images and products would become globally renowned.

He instructed the municipal Departmentof Industry and Trade to set up institute a programme for developing suchtrademarks and brand names.

Pham Thanh Kien, Director ofthe Department of Industry and Trade, said, “Enterprises with products whichhave trademarks and brand names can sustain rapid growth in turnover andprofit.”

Not only large companies butalso small and medium-sized ones should pay more attention to this, he said.

“The department will continueto assist and train enterprises to address their problems in developing brandsand, especially, trademark registration.”

It would help businesses takepart in city promotion programmes that provide loans for developing andacquiring technologies, expanding production and entering global supply chains,he said.

Nguyen Quoc Thinh of theInstitute for Brand and Competitiveness Strategy said HCM City needs severallarge enterprises to take the lead in developing trademarks and brands and thentrain others in the task.

The city’s brand name woulddevelop based on its businesses’ brand names and trademarks rather than famousdestinations, he added.  

Nguyen Duc Son, CEO of UScompany Richard Moore Associates and chairman of Plato Academy, said the cityand enterprises should apply international standards and new methodologies inbranding.

Dr Vo Tri Thanh, Director ofthe Institute for Brand and Competitiveness Strategy, said the city’s programmefor developing brand names and trademarks should dovetail with the nationalbranding strategy./.