Vietnamese Shrimp Global Integration

Trademark protection building and registration for shrimp need to be concerned at both macro and micro levels, thereby raising the value of Vietnamese shrimp in the world market, because shrimp has been considered as an export good gaining billions of dollars annually. Reporter from Vietfish Magazine has had a discussion regarding the meaning and significance of Vietnamese shrimp brand in global integration with Mr. Ho Quoc Luc, Chairman of Board of Director of Sao Ta Joint Stock Company.

Reporter: In your opinion, how is brand significant to businesses, especially those specialising in fishery, which is the key field of the agricultural economy?

Mr. Ho Quoc Luc: Consumers do not have much time choosing things when shopping, thus, as soon as they see any goods in need with popular reputation, they will add them into their carts without checking or comparing. Therefore, products without a ubiquitous brand name would have difficulties in consuming, in increasing the consumption amount and certainly in raising the price. Branding has always been compulsory for businesses who wish to survive and develop in both domestic and foreign markets. With abroad and international-scale competition, branding is even more vital.

Reporter: After more than 40 years entering the world market, many enterprises have commenced to draw their attention and awareness to branding for their shrimp, however, there are still some certain limitations. From your perspective, what is the existing problem?

Mr. Ho Quoc Luc: Not only does branding need determination, but it also needs strong financial resources. Although Vietnam has more than hundred shrimp businesses, the number of businesses with turnover of over hundred millions of dollars are not much. Moreover, many enterprises are aware of building prestigious reputation for themselves though in fact there have been several limitations. As a result, there are a lot of excellent and trustful products with the name of foreign distribution system or importers labelled on the packages, while the Vietnamese business code and name are just some modest words printed on the labels. How consumers could know which products are from, only the distribution system and importer know.

Reporter: What should businesses do to tackle this problem?

Mr. Ho Quoc Luc: Branding is extremely vital in order to improve competitiveness, attract customers, expand activities, attract excellent staff for businesses…; overall is to raise the value of products, thereby achieving better business development and higher business reputation. However, it is not compulsory for a business to have a trademark. Businesses need to cut their coats according to their clothes, and need to be circumspect to achieve success. Just determining the time and procedure to build a reputation so as to avoid failure is not just a serious and difficult task, but it is a long-lasting artistic business! In other words, branding for Vietnamese shrimp in the international market is extremely difficult, which requires not only perseverance, but also requires each business leader to take advantage of opportunities, and specially keep credibility when doing business. Shrimp enterprises need to have long-term preparation, such as to have a large-scale farming area (raise shrimp themselves or link farms and households to raise shrimp) having certified quality standards, in order to improve persuasion to customers and make the reputation stable and sustainable. Enterprises also need to build business culture, follow business ethics, perform social responsibility, draw attention to construction, and perform a set of standards regarding sustainable development. All of these have to be synchronized and the results of the effort put on these tasks have to be apparently shown in order to step by step affirm the superiority of products, such as safety, nutrition, traceability and sustainability (considered as honesty); thereby improving persuasion to customers, consumers, and raising the value of branding.

Reporter: You have just mentioned the “credibility” when doing business, so how is it significant to branding?

Mr. Ho Quoc Luc: In my opinion, businesses always have to remember and strictly follow the “credibility” when doing business, because it is the core of branding. In the context of having high-quality products, just engaging the core is extremely superb, because at that corresponding time we only lack the package including logo, label and unique packaging design. Although there still have been several drawbacks, the trend is irresistible. Vietnamese shrimp enterprises have always been preparing a long-term plan, which is to exceptionally focus on building a reputation for their business in the market according to their circumstances and abilities. They also simultaneously build mission, vision and core value for their business in high regard, which are closely related and accompanied with branding.

Reporter: What is your opinion about the statement that branding for Vietnamese shrimp is to build reputation for shrimp on a national scale first, or to build reputation for each shrimp business in advance?

Mr. Ho Quoc Luc: From my perspective, branding for shrimp on a national scale and for each shrimp business have an organic and supportive relationship, so it is difficult to conclude which one should be done in advance. Theoretically, if Vietnam has a large number of businesses who succeed at branding, this would clarify the Vietnamese shrimp brand. However, if there is not enough fresh shrimp, which foundation would be used to build a reputation for businesses? This question emphasizes the prime importance of macro programs. On a macro scale, enterprises need to have awareness and commence in advance in order to be a supportive basis for branding themselves. The policies, institutions, regulations from macro level assisting businesses must be practical and effectively implemented. This would become motivation for businesses to enhance strong branding. When most enterprises have well built their reputation, the national-scale branding would also be formed.

There have also been several ways to promote for Vietnamese shrimp at macro level, however, apparently if businesses have no movement, the branding program at national level would be hardly successful. As a result, it is necessary to have cooperation between macro level and enterprises. The macro level creates a favorable link to encourage enterprises to have determination to implement the branding for themselves.

Thank you for your sharing!

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