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Vietnamese business’ efforts to build brand

​In the recent years, due to the strong competition from imported goods, domestic enterprises are making great efforts to affirm their brands.


​In Dong Nai, the problem is more urgent when there are 20,000 local enterprises, but according to the assessment of functional departments, the number of products that feature the local characteristics is still very small.

Branding, the puzzle to success
Truong Hai Auto Company is an example of a successful branding effort initiated in Dong Nai. In 1997, Mr. Tran Ba Duong established Truong Hai Automobile Joint Stock Company in Bien Hoa Industrial Zone 2 with a small workshop. The initial model was to import used refurbished vehicles to supply the market. With the strategy of taking the advantages of big brand names, the company actively sought opportunities to cooperate with large companies and corporations in the world, after 20 years, Truong Hai from a small workshop has become a big corporation of Vietnam. Besides Dong Nai branch, Truong Hai has 3 offices and assembly facilities located in the cities of Ho Chi Minh City, Hanoi and Chu Lai (Quang Nam) as well as cooperates with major corporations in the world.

 

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Nam Long rubber glove products are on display to promote the company’s brand at Vietnam High Quality Goods Fair 2018 in Ho Chi Minh City.
 
In order to build a big brand recognized nationwide like Truong Hai Auto, Chairman of the Board of Directors Tran Ba Duong said that there must be innovation, accompanied with daring decisions but consistent with the market trend. "The market is always changing, to be able to win the hearts and minds of consumers, businesses must always be innovate, creative. We see ourselves as a late comer in the industry so we must cooperate with the pioneering and prestigious units in the world. Truong Hai's goal is to create high-quality automobile products that contribute to the development of the domestic automobile industry," said Mr. Duong.
 
Despite having not gained significant success, the rubber glove products of Nam Long Company Limited (Long Thanh District) has always been voted as high quality products by Vietnamese consumers in recent years. Mr. Le Bach Long, Director of the company, said that in order for consumers to identify their brands, the company chooses direct sales channels through dealers in the markets and retailers, not processing products for other businesses. Besides, through promotion channels, displaying products at trade fairs, Nam Long has been able to widely promote their brand. "I am very interested in trade promotion opportunities because it is not easy for consumers to identify our brand. We have involved ourselves in most of the trade fairs and ones organized by the province. In addition, domestic and foreign fairs organized by units of the Ministry of Industry and Trade are also very good channels for businesses to promote their brands," Mr. Long said.
 
Similarly, in order for Trong Duc cocoa Co., Ltd. (Dinh Quan district) to position its brand, beside purchasing and processing cocoa at present, the company has started to cooperate with foreign partners, especially Japan to create highly valuable products such as claret, chocolate and supplement diatery products. In particular, Trong Duc cocoa company has also joined the domestic high quality product program as a channel to penetrate into the market with its products. "At the beginning of 2018, we are really happy that the branded products are highly evaluated by consumers, in terms of quality. This will be a factor as well as motivation for us to continue to improve the quality of products in the coming time," excitedly said Dang Tuong Khanh, Director of Trong Duc cocoa Co., Ltd.
 
Increase the value for Vietnamese goods
 
As for Dong Nai as well as the whole country, initially there are some enterprises that have consolidated their positions in the domestic and international markets, but the number of those is still very small, especially for enterprises producing goods. Commenting on this, Chief Representative of the Ministry of Industry and Trade in the South Bui Thanh An said that the export market of Vietnam is increasingly expanding, but the proportion of export value is depending on foreign direct investment enterprises. "FDI enterprises account for more than 70% of the value of exported goods. The strength of the Vietnamese brand is a pressing issue in the current economic integration era as. Although the quantity and value of Vietnamese exports are increasing rapidly, the majority of them come from FDI enterprises. The number of Vietnamese brands that have planted in the international market is very small. If not able to build a strong brand name, originally Vietnamese products will increasingly lose its market share to their competitors," she anxiously stated.
 
Vice Chairman of the provincial People's Committee Tran Van Vinh said that the task of the industry and business community in the province is to strive to have more and more specific products that are easily recognized with the characteristics of Dong Nai province. "The scope of the economy, the export value of Dong Nai is significant, but it depends on 80% of FDI enterprises. Domestic enterprises are still minor and only few of them are involved in the supply chain of valuable products for FDI enterprises. Therefore, the work of shaping and building products that are typical and symbolic for Dong Nai to improve competitive strength in the domestic and export market is an urgent matter that must be taken into account," said the Vice President of the PPC.
 
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