VN firms need to up their game
VN firms need to up their game
Locally-produced fast moving consumer goods were urged to improve their competitiveness to occupy the home market as the challenge from imported products was anticipated to become stronger.
Deputy Minister of Industry and Trade Ho Thi Kim Thoa said that intense pressure of competition required firms to take action to avoid losing out even in the home market.
Thoa said the country's economic growth and rising income per capita was creating conditions to boost purchasing power on fast moving consumer goods.
She cited statistics which showed that the GDP was expected to grow at 6.5 per cent this year – the highest since 2011 while income per capita reached US$2,200, up 15 per cent against 2013.
The industry, however, would face rising competition from imported products as Viet Nam was integrating deeply into the global economy with the joining of many free trade agreements, Thoa said.
Thoa stressed that the ministry would continue to improve the legal and technical barriers while simplifying administrative procedures and improve the business climate.
The ministry urged firms to boost product quality and competitiveness to build the Made-in-Viet Nam brand in order to occupy the domestic market and expand exports, Thoa said.
Nguyen Viet Duc, general director of the Viet Nam Paper Corporation, said that the joint efforts between the government management agencies and businesses were important to promote local production of fast moving consumer goods.
Duc said that the battle against counterfeit and smuggled products must be enhanced while the distribution system must be consolidated to ensure that Vietnamese products reach the consumers.
To promote fast moving consumer products for the local market, the ministry would hasten the implementation of the campaign of prioritising Vietnamese products, and the project of developing the domestic market from 2014 to 2020.
