The challenging global market situation with many enterprises slashing production or even disappearing presents opportunities for Ho Chi Minh City enterprises to position their brands, said a Google executive.
Randolph Ng, Google Asia-Pacific's general director of new customers in ASEAN, Australia and India, expressed his opinion at the forum “HCMC Brand - Innovation and Sustainability Towards the International Market” held on January 19 in HCMC by the HCMC Department of Industry and Trade and Vietnam Brand Purpose.
Randolph Ng said businesses must sell multi-channel products, such as doing business on Amazon, to reach customers and develop a strong and sustainable domestic and global brand.
Nguyen Kim Ngoc, deputy director of the municipal Department of Industry and Trade, said that the dynamic and creative tradition of HCMC has led to the establishment of numerous firms and the development of competitive product brands trusted by consumers, increasing their national reputation and allowing access to the world market.
Enterprises need to focus on improving product quality and gaining the trust of customers as part of their brand development strategy, she said. Product quality affirms companies' reputation and creates the opportunity to develop their brand in the international market, she said.
Ngoc noted a typical example of successful brand building in today's challenging context was the KIDO Group. In 2023, the brand entered the spice food sector, launching fish sauce and seasoning products under the brands Tuong An and Tuong An Unicook.
Le Nguyen Duy Oanh, deputy director of the Supporting Industry Development Center under the HCMC Department of Industry and Trade, also gave some examples of businesses that were flexible in the pursuit of sustainable development, like Duy Khanh, Dai Dung and Cat Van.
Tran Tue Tri, author of the book "Vietnamese Brands - Golden Moment,” told The Investor that despite many internal challenges and international impacts, businesses in HCMC still have many opportunities to play a leading local role in building a national brand because of the city's economic development and unique cultural identity.
Tri said that in reaching out to the world, businesses must improve management and design as well as human resources. Businesses that make systematic investments in human resources were more likely to find success in building their corporate brand, he added.