(VEN) - The 'Buy Vietnamese Goods' campaign brings a golden opportunity for local companies, said Deputy Minister of Industry and Trade, Nguyen Cam Tu, in a meeting with representatives from different Vietnamese business associations on March 9, 2010 in Hanoi.
In the words of Deputy Minister of Industry and Trade Nguyen Cam Tu, with around 86 million people and burgeoning consumer demands the local market is now as sizable as export markets. Especially, Vietnamese companies seize prevailing advantages when targeting domestic market compared to foreign rivals. That is because local businesses know what consumers want, so that with well-conceived development plans, Vietnamese companies can boost sales in the domestic market. Besides, people's constantly improved living standards have resulted in ever-increasing consumer demands, providing vast opportunities for local businesses to ascertain their position in the domestic market through quality products. Therefore, when the export markets are grappled with difficulties, the local market could become a reliable shield for Vietnamese companies.
Sharing the view, the deputy chairman of the Hanoi Business Association (HBA) Nguyen Tuan Hai said the 'Buy Vietnamese Goods' movement looks into enlarging the domestic market with the participation of businesses across the countries and active in a diverse range of sectors. This will help businesses raise the market share, lower expenses, better competitiveness of products and services, and significantly enhance the united forces of the business community and the economy. With these interests, he asserted: Vietnamese companies need to work out proper business strategy to make use of advantages in the home ground.
The interests that the movement brings are apparent, however, making it work while receiving active support from the business community is a big issue. In this respect, support from different business associations is of paramount importance. The chairman of the Vietnam Tea Association, Nguyen Van Thu, said the business associations could inform the content, interests and ideas of the 'Buy Vietnamese Goods' campaign to each company through their member units, from there encouraging them to take part in the campaign.
In the words of Mr. Thu, Vietnamese people mostly use made-in-Vietnam tea. That is because local tea products are made of high quality. Therefore, for other local items to set a firm foothold in the domestic market like tea products, businesses must turn out quality products at reasonable prices. Besides, the State needs to fortify management to prevent quality local products from being imitated to shield good brands and seize local consumers' confidence.
About the 'Buy Vietnamese Goods' campaign, the chairman of Hanoi Young Business Association, Bui Van Quan, said "This is a proper direction alongside national economic development. The domestic market must serve as a launching pad for local companies to break into world market. It is like that before sailing to the high seas a ship must stay firm in local harbor. We want local consumers to use local products. However, for Vietnamese goods to win a place in local consumer hearts, it depends largely on businesses themselves."
Generally, the 'Buy Vietnamese Goods' movement could help local businesses not only become more conscious of the need to produce quality items, but also provide them with the opportunities to win the domestic market and set a toe in foreign markets. “While foreign retailers look into increasing their market share in Vietnam, why local businesses neglect the domestic market,” said Deputy Minister of Industry and Trade Nguyen Cam Tu./.
By Nguyen Hoa
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