IP should be part of businesses’ development strategies

Businesses need to be fully aware of the importance of intellectual property (IP) and make it a critical part of their development strategies, especially when the country is now a TPP member.
IP should be part of businesses’ development strategies ảnh 1Over 1,200 fake Charles&Keith and Pedro handbags are destroyed in Hanoi last December (Photo: VNA)

Hanoi (VNA) – Businesses need to be fully aware of the importance of intellectual property (IP) and make it a critical part of their development strategies, especially when the country is now a member of the Trans-Pacific Partnership (TPP).

TPP, the world’s biggest free trade agreement with its 12 member countries making up 40 percent of the global economy, has an IP chapter that covers patents, industrial designs, trademarks, geographical indications, copyrights, among others.

Vietnam’s efforts to protect IP rights have yet to meet the real demand as well as international commitments, Deputy Minister of Science and Technology Tran Viet Thanh said at a discussion in Hanoi on April 20.

Thanh said the country has implemented IP rights from the central to grassroots levels with such programmes as the one on fighting smuggling, trade fraud and counterfeits, and the other on preventing IP infringements.

However, the violation of IP rights is still rising and becomes more complicated, he emphasised.

The market control force has dealt with more than 22,400 cases relating to fake and low-quality goods and IP rights violation, said Pham Van Toan – Deputy Chief Inspector of the Science and Technology Ministry (MoST).

Of the figure, MoST inspectors have handled 752 cases and fined 344 violating organisations while their counterparts in the culture, sports and tourism ministry have tackled 419 cases and fined 384 violators.

As a TPP member, Vietnam must realise the commitments on IP rights, foreign investment, environment and labour standards, competition and State-owned enterprises, and the settlement of disputes, Deputy Minister Thanh noted.

To promote the law enforcement’s effectiveness, Toan stressed the need for aligning relevant legal documents, such as the Law on Intellectual Property, the Penal Code, the Law on Customs and the Law on Pharmaceuticals, with the reality and international commitments.

While the law enforcement staff should receive intensive training, inspections and the punishment of violations must be strengthened, he added.

At the discussion, many insiders called on companies to survey the market regularly to timely detect any violations of their IP rights.

The function, held by the MoST and the Vietnam Chamber of Commerce and Industry, was among activities in response to the World Intellectual Property Day (April 26).-VNA

VNA

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.