Vietnamese spice 'tycoon' shares 10 key tips for startups looking to export

Nguyen Trung Dung, founder and CEO of Dh Foods - a Vietnamese spice company currently exporting to 15 countries - believes that startups must prioritize intellectual property registration and trade show participation if they want to take their products global.

In a talk with The Investor, Dung outlined 10 crucial insights for Vietnamese startups aiming to break into international markets.

7 ways Vietnamese startups can level up

According to Dung, the first step for startups is to register their intellectual property (IP). Start by securing protection in Vietnam, then proceed to register in targeted export markets. While the cost is relatively low, the value it brings in brand protection and credibility is enormous.

Second is to build a strong, multilingual website. A professional website with complete product information and fast loading speed is essential. At a minimum, it should be available in both Vietnamese and English - and ideally in the languages of your target markets.

“The website is the first place customers check after receiving a proposal. If it's not optimized, chances are they'll move on,” he noted.

Third, diversifying product portfolio is necessary. While high product quality is a must, offering a variety of options is equally important. Dung recommends having at least 10 different products to meet various customer preferences.

Fourth is customizing packaging to the language of the export market. International buyers appreciate localized packaging - it shows attention to detail and respect for the customer.

Fifth, designing smaller packaging sizes is better, especially in the beginning. Consumers in foreign markets often want to try a product before committing to a large quantity. Smaller packages are also easier to store and ship - important factors given that international shipping can take up to a month.

Sixth, building a strong domestic base is also necessary. Customers are more likely to trust products that are already proven in their home market. Leverage e-commerce platforms in Vietnam to boost brand credibility before exporting.

Seventh, participating in trade shows is good. Start with domestic exhibitions to gain experience, then expand to international events once your budget and organizational capabilities improve.

3 things startups must do to go global

Eighth, Vietnamese startups should get involved in trade promotion programs. Monitor and register for initiatives organized by government agencies such as the Ministry of Industry and Trade, the Vietnam Trade Promotion Agency (Vietrade), and the Vietnam Chamber of Commerce and Industry (VCCI), as well as industry associations. These programs can help connect you with potential overseas buyers.

Ninth, leveraging international e-commerce platforms is important. Platforms like Amazon and Alibaba are powerful tools for finding and reaching global customers online.

Finally, tapping into the Vietnamese diaspora is good for Vietnamese startups by engaging with Vietnamese communities abroad to find local collaborators who understand the market landscape. Vietnamese people living overseas have valuable market insights and can help startups gain traction in new markets.