Vietnam overhauls laws to stimulate support industry

10:29 | 18/07/2015 Industry

At a July 15 industrial conference sponsored by the Ministry of Industry and Trade (MoIT) and Samsung, the need for a new legislative framework for marketing of products was the topic of discussion.

Vietnam overhauls laws to stimulate support industry

“Vietnam needs to establish a better – toolbox of measures – to build on existing systems to boost the quality of products, clarify patent and copyright laws as well as improve market surveillance,” said MoIT Deputy Minister Tran Tuan Anh.

Anh underscored that these measures will help the market for goods work better, strengthen and modernise the conditions for domestic businesses to innovate and place a wide range of industrial products on the market.

Anh revealed that the MoIT is currently drafting a decree containing these measures that he will soon submit it to the Prime Minister for approval.

A representative of Samsung in turn said the measures will also serve to attract more large multinational companies to do business and invest in Vietnam as it makes the domestic market more appealing.

At the seminar, Samsung unveiled a list of electronics components that the company is seeking suppliers and held direct talks with 200 businesses applying to become material suppliers./.

Source: VOVnews