Seminar discusses product development

Developing lines of new, high-quality products at reasonable prices would give Vietnmaese businesses a competitive advantage, said participants at a seminar yesterday in HCM City.

For example, the Dien Quang Lamp Joint-Stock Company began making compact lamps that can be used in humid environments following months of research and testing, said Tran Quoc Toan, deputy general director of the company.

Compared with incandescent bulbs, the lamps were more energy-efficient and durable, he said, adding that many farmers, who typically use incandescent bulbs, wanted to buy the new product.

The seminar is part of the “Tiep suc hang Viet” (Improving Vietnamese Goods) programme organised by Tuoi Tre newspaper, the Viet Nam Dairy Products Company (Vinamilk) and the Business Study and Assistance Centre.

The programme helps the local business community develop new products and improve competitiveness for Vietnamese-made products in the domestic market.

Bui Thi Huong, foreign affairs director of Vinamilk, said the company had developed new products with high quality and competitive prices.

It also worked with foreign partners in research and development of nutritious products targeted for the Vietnamese market, especially for infants.

During periods of “price fever”, consumers tend to choose affordably priced products that have similar quality to imported ones, she said.

Price, quality, marketing and distribution were the most important factors in developing new products, said Nguyen Quoc Khanh, Vinamilk’s executive director for product production and development.

Consumers were usually most concerned about price, he said, adding that companies should use advanced technology in production and cut all unnecessary costs.

Besides focusing on developing products that ensure food hygiene and safety standards, marketing and distribution strategies were also important, he said.

Vinamilk last year achieved a growth rate of 49 per cent, with more than VND16.8 trillion (US$802.6 million) in turnover, Huong said, adding that the company expected to achieve a revenue of $1 billion this year.

Representatives of other businesses, including Tai Ky Food Flour Corporation, Bich Chi Food Company and Thao Huong Co Ltd, also spoke about their efforts to conduct research and develop new products to maintain market competitiveness. — VNS