In 2016, Vietnamese companies will have to export with a low taxation level, and join global supply chains.
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HCM CITY (VNS) — The upcoming Trans-Pacific Partnership (TPP) and ASEAN
Economic Community would present Vietnamese business with opportunities
as well as challenges as they would have to compete with highly
qualified foreign companies, business executives said at a seminar held
yesterday in HCM City.
"Today, intelligence, creativity and technology are the
factors that make success, not intensive labour of a low capacity," Ly
Truong Chien, chairman of the Tri Tri Group, said during the opening
speech of the seminar.
He said the world was "now flat" with information available to many people.
"But Viet Nam is still passive and waiting, so the country lags behind far even neighbouring countries," he added.
Chien suggested that the business community should encourage
start-ups and the embrace the philosophy of "welcoming mistakes and
failures".
"Change is the essence of life, especially at this time where change
is faster than in the past. Viet Nam must change to catch up with the
international community," Chien said.
In 2016, Vietnamese companies will have to export with a low taxation level, and join global supply chains.
More markets will not depend on only one partner, and the business environment will be more fair and transparent.
Chien said that Viet Nam did not have a competitive advantage over other ASEAN members.
"Cheaper commodities from ASEAN will flood into Viet Nam along with
high-level human resources who will come to work in Viet Nam," Chien
said.
In addition, prices would increase, such as electricity, which rose 7.5 per cent early last year.
Chien said that environmental fees would rise by 300 per cent.
To cope with the situation, Chien said that the local business
community must increase their resilience, promote creativity and
innovation, and receive protection for their ideas and products.
"The HCM City Intellectual Property Association (HIPA) is ready to
support the local business community in protecting their products and
inventions," Nguyen Van Vien, chairman of the HIPA, said.
"Viet Nam has signed many international intellectual property
agreements in order to support local enterprises so they can compete in
the international market. However, intellectual property protection does
not receive enough attention, only when Vietnamese brand names are
lost," Vien said.
The situation has improved, but not enough to protect local businesses in the international arena.
"The local business community must protect their brand names,
products and creations with intellectual property rights," he said. —
VNS
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