Vietnam should use intellectual property as tool for economic growth: experts

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Intellectual property (IP) does not merely belong to the technical or legal aspects but also an effective tool for national economic development and businesses’ profit growth. It has become one popular property to be used by the public nowadays.

Vietnam should use intellectual property as tool for economic growth: experts ảnh 1


In his latest visit to Vietnam, Deputy General Director Hasan Kleib of World Intellectual Property Organization (WIPO) stated that the use of IP to develop a business is critical all over the world, including Vietnam, which needs to consider it as a tool to promote its own national economic growth.

Sadly, Vice Chairman of the Intellectual Property Office of Vietnam Tran Le Hong informed that although in developed countries, IP accounts for 90-95 percent of the production performance of a company, this proportion in Vietnam is rather low. Therefore, without breakthrough approaches in investment, manufacturing, and trading activities related to IP, it is difficult for the country to achieve the goals set by the Central Party and the State.

Many domestic and foreign experts in the IP field commented that Vietnamese businesses still do not pay proper attention to IP in their operation. As many of them are not truly aware of the importance of IP rights protection, the value of IP is not fully exploited in their manufacturing and trading activities.

Luckily, a large number of enterprises are gradually putting more attention to policies and financial mechanisms in the IP field. They wish to learn from international experience and to receive support from WIPO in improving their specialized skills and commercializing, valuating IPs.

WIPO shared that it now has various tools and programs to help businesses to better manage their IP rights. In particular, it offers guidebooks and books, software to evaluate the current IP status of a company (IP Diagnostic), a consultation program for IP management (IP Management Clinics). These are available on its official website.

Vietnam is planning to organize some IP-related events and programs in the upcoming time such as developing intermediary organizations to support enterprises in managing IPs, hosting training sessions and offering consultation sessions on IP.

By Tran Luu – Translated by Thanh Tam

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