Insiders have urged for improved branding in order to increase the competition and international presence of Vietnamese agriculture product. With 11 export products producing more than $1 billion, agriculture is a key sector for Vietnam. The month of January saw an increase of 79% for exports of agricultural products, able to penetrate hard markets like the US as well as Australia. But, the majority of these exports are basic items with lower worth and less name recognition in comparison to international counterparts. In addition, 80 percent of Vietnam’s agricultural produce is sold under foreign brand names and their price is lowered.
Experts insist on the necessity to establish branding to market Vietnamese agriculture products. The economist Vu Vinh Phu outlines the need for secure as well as traceable supply chain encouraging collaboration between local farmers and businesses to improve high-quality and brand recognition. Businesses and government agencies are urged to obtain brand registrations in foreign countries as well as to innovate in seed technology and create geographical indicators for enhancing the value of their products.
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