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Improving competitiveness for Vietnamese products
Nguyen Tung 17:21, 2017/12/12
In order for Vietnamese goods to compete with imported goods, local enterprises have to prioritize in products quality and the package design.
As such, enterprises have to invest more in technologies in production and distribution channels. Statistics showed, Vietnamese products in modern retail systems are of 95%, while in traditional markets the number is 75%. However, for Vietnamese goods to be dominant in the market, enterprises have to improve their competitiveness, facilitate brand development and applying technologies in production. Moreover, customers are also concern over food safety issues. 


Discussing the strategy for Vietnamese goods to win over customers, General Director of Hoa Lan JSC Nguyen Thi Dong said, in 2009, the company’s products were exported to Japan, but the rate of consumption in local market was not positive. “With the same product of soap made from natural ingredients, in Japanese market, the product price was 30 USD, but in local market, Vietnamese customers only buy it for 15,000 VND (50 cent)” – Dong said. 

Many enterprises also have the same view that in order for Vietnamese goods to dominate the market, it requires enterprises to take advantage of the industrial revolution 4.0. However, the majority of Vietnamese enterprises are lacking funds to access new technologies, therefore, they want the support of the local government in accessing fund with preferential rates. Besides, experts said, for enterprises to apply technologies, farmers have to change its habit of production and avoid the mindset of short-termism. 

Vice Director of Hanoi Department of Industry & Trade Tran Thi Phuong Lan said, Hanoi has been supportive for enterprises in accessing technologies, in which focus on developing brand. In recent years, Hanoi has issued policies to encourage the development of traditional craft villages and supporting enterprises in developing brands, resulting in 50 enterprises and 20 craft villages received support in brand development. Besides, the Hanoi Department of Industry & Trade also advertise local products on its website. At the same time, the connection between enterprises and Vietnam’s trade representative abroad through website has helped reducing time for discussion and product introduction to customers. 

With regard to fund allocation, Hanoi has also cooperated with State bank of Vietnam (SBV) to organize the event connecting banking and enterprises, supporting enterprises to access loan with preferential interest rate. Specifically, in 2015, credit institutions in Hanoi has committed to lend 109 trillion VND, in 2016, the number has increased to 233 trillion VND. In particular, in 2017, commercial banks in Hanoi has committed to lend through the event connecting banking – enterprises with more than 300 trillion VND. 

At a conference recently, the Vice Chairman of Hanoi People’s Committee Nguyen Doan Toan said, in the coming time, Hanoi will continue organize trade facilitation programs, supporting enterprises to develop and advertise Vietnamese brands. Besides, the city will push forward the effort of administrative reform, creating favorable conditions for enterprises to expand production and business activities. Hanoi will also promote and raise people’s awareness in preventing fake and smuggled products, in turn to support enterprises in protecting brands. 
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