Companies seek incentives to develop global trademarks

More than 400 Government officials, economists and business executives discussed building Vietnamese trademarks to help businesses improve their global competitiveness at a seminar held in HCM City on Wednesday.

Vo Van Quang, business director of Cowan Australia Trademark Building Co said with companies needing to invest money to develop trademarks, the Government should offer them incentives for the purpose.

It could waive tax for a year for companies that sold a brand in a new market.

Business associations had a major role in helping businesses popularise trademarks in global markets, he added.

Many participants agreed that quality standards were not carefully regulated and intellectual property protected, posing hurdles to developing trademarks.

The seminar was held by the Viet Nam Young Entrepreneurs Association.

In related news, 200 top brands received the Sao Vang Dat Viet prize (Viet Nam Gold Star) at a ceremony held on Independence Day, Thursday, by the association.

Organisers divided the prize into the Top 10, Top 100 and Top 200 categories to honour the best.

The top 10

The top 10 included Thaco Group, Tien Phong Plastics Co, Viet Tien Joint Stock Co, PetroVietnam Construction Joint Stock Corporation, HANAKA Corporation, and Trung Nguyen Joint Stock Co.

The winners were chosen based on criteria like their competitiveness and market position, technologies, environment and quality management, brand development, business management, and social and community responsibility.

The 200 brands accounted for revenues of more than VND453 trillion (US$23.8 million) last year.

Deputy Prime Minister Truong Vinh Trong hailed the efforts by businesses to spearhead economic growth.

He called on the Ministry of Industry and Trade and other relevant agencies to create a legal environment conducive for businesses to grow and establish tie-ups with others.

A series of other activities were held on the sidelines of the event, including a march by 10,000 workers from the prize-winning companies to raise funds for disadvantaged children

The parade, held at the April 30 Park, raised more than VND3.2 billion ($168,421).

Started in 2002, the annual Viet Nam Gold Star award seeks to encourage and honour businesses and famous trade marks. — VNS

Tags: Vietnam trademarks