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Domestic firms must go high-tech
More innovative use of technology was necessary to produce high quality goods if domestic enterprises were to compete with foreign firms on their home turf, a conference was told.
However, such measures would take time and require Government support and closer links between firms and between relevant sectors, Viet Nam Standards and Consumers Association Vice Chairman Do Gia Phan said.
Quality was important to gaining consumer confidence, said financial expert Bui Kien Thanh. Consumers would not buy low quality products, even though they were made in Viet Nam.
"Good distribution channels were also a must," he said.
Business Studies and Assistance Centre Director Vu Kim Hanh said while it was costly to build up effective distribution channels, it was imperative to ensure goods reached the hands of consumers, especially in the rural areas.
The rural market would be the focus of foreign retailer investment, Hanh said.
Therefore, if Vietnamese firms didn't develop sound strategies in the rural market, they would be beaten at home.
Hanh also called for more incentives in space and production bases for firms.
Vietnamese goods had regained local consumer confidence thanks to their good materials, diversified designs and competitive prices.
A TV Plus Company survey showed that 58 per cent of Vietnamese consumers were interested in buying locally made products following the launch of the "Vietnamese prioritise to use Vietnamese goods" campaign by the Ministry of Industry and Trade more than a year ago, up from 23 per cent before the launch.
As part of the programme, more than 130 fairs and exhibitions showcasing Viet Nam-made products were organised in 41 cities and provinces nation-wide during the first half of the year. The events reported a total sales revenue of VND420 billion (US$22.1 million).
In addition, 140 campaigns selling Vietnamese products in rural areas were held in the same period with the participation of more than 1,600 firms.
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