(VOVworld) -  Deputy Prime Minister Truong Hoa Binh has urged Vietnamese enterprises to improve their vanguard position in both domestic and foreign markets.

Domestic businesses urged to invest in technologies to increase productivity and business efficiency. (Photo: VOV)

At a ceremony in Hanoi on Wednesday to announce the national brand awards 2016, Mr. Binh said that the significant achievements attained by the awarded companies will be a crucial foundation for Vietnam’s future economic development.

He urged the brand winners to pursue the values of quality, reform, creativity, and pioneering so as to be worthy of the awards and consumers’ trust.

“You should ensure the prestige and quality of your products and healthy and transparent financial operations. It’s important to constantly update techniques, apply environmentally friendly technologies to increase productivity and business efficiency, and use locally made materials to replace imported materials,” Binh noted: “You need to improve your pioneering position in domestic and foreign markets to deserve to be called outstanding representatives of the Vietnamese national brand.”

The 2016 national brand awarding program, the fifth of its kind, recognized 88 enterprises, 70 of which earn a revenue of 44 million USD each.