Vietnam pledges to strictly handle violations of IP rightsThe market management force of Vietnam is committed to strictly handling violations of intellectual property (IP) rights so as to create an optimal environment for foreign investors, including those from the Republic of Korea (RoK), an official of the Ministry of Industry and Trade (MoIT) has said. Hung said implementing IP rights is increasingly important to the socio-economic development of a country, especially amidst the integration into a free trade market. Vietnam has continually attached importance to the protection and implementation of IP rights and achieved many notable outcomes, he said. He added although there remained many difficulties in the fight against counterfeits and the implementation of IP rights, Vietnam’s managerial agencies always consider IP violations and counterfeits as an act of economic sabotage. However, small- and medium-sized enterprises (SMEs), especially supporting firms and those making use of low labour costs in Vietnam, haven’t attached much importance to IP rights.

Source: VietNamNet News May 11, 2018 04:07 UTC