Vietnamese firms need better branding
06/10/2008
Footwear manufacturers in Vietnam must become better at building and promoting their brands if they are to make more of an impact on the international market. The warning came from Antonio Berenguer, trade counsellor of the European Commission’s delegation to the Asian country.
Speaking at a business conference in Ho Chi Minh City, organised jointly by his office and the Vietnam Chamber of Commerce and Industry (VCCI), Mr Berenguer said Vietnamese companies were being held back by a government ruling preventing any business from spending more than 10% of their operational costs on advertising. Corruption and a lack of respect for intellectual property rights were other areas in which Vietnam needs to make progress, he observed.
Doan Duy Khuong, VCCI’s deputy chairman, said only 25% or 30% of Vietnamese companies had invested in branding and confirmed that, of these, only 30% had developed comprehensive branding schemes.
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