Taking advantage of opportunities…

Not only being a tool promoting innovation and technology transfer, intellectual property is considered an intangible asset with increasing value to enterprises, especially in the context of the global trade with increasing interdependence in production activities and international trade at present. Vietnam has signed 17 multilateral and bilateral free trade agreements (FTAs) with partners. To be able to "reach out to the big sea", accessing the world market from the FTAs, enterprises need to comply with and take advantage of the FTAs.

For example, the EU-Vietnam Free Trade Agreement (EVFTA) and the relationship between intellectual property right and international trade is inevitable and undeniable. The EVFTA is expected to become a new standard in the protection and enforcement of intellectual property right in the global trade. Hence, enterprises, especially small and medium-sized enterprises (SMEs) that do not have strong financial and human resources, need to pay attention from complying with regulations on intellectual property, especially for  traditional partners in the process of doing business. This way will help build a solid foundation of trust, thereby expanding opportunities for cooperation and investment in the context of sustainable trade relations, not only basing on a wide scope, but also needing deep penetration like at present.

According to Tran Giang Khue, Deputy Head of the Southern Representative Office of the National Office of Intellectual Property (NOIP), enterprises need to obviously know legal regulations, international treaties and new regulations on intellectual property in new generation FTAs ​​to take advantage of mechanisms and policies to turn into resources. Enterprises must pay attention to integration, potential markets…; take advantage of diplomatic channels to get full information about the FTA, as well as information about the market for quick integration.

Binh Duong is strongly developing industrial parks, attracting many domestic and foreign investment projects. It is believed that along with the local support solutions, when complying with and make good use of intellectual property, enterprises will uphold advantages from the FTAs. It is also considered as a "push" for market expansion, improving competitiveness and affirming the Vietnamese brand in the international arena.

Reported by Phuong An-Translated by Kim Tin

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