Its been a busy week in Vietnam’s IP world. The International Chamber of Commerce’s Business Action to Stop Counterfeiting and Piracy initiative (BASCAP) is a business driven program focused on stopping counterfeiting. It has released its first report on IP in Vietnam. Focusing on the prevalence of fake and pirated goods, the report identifies a series of problems that cause the widespread proliferation of fakes in Vietnam. They cite a large grey economy, corruption; weak enforcement systems and poor consumer awareness. They report cites some recent developments but adds that more needs to be done. Their recommendations include:
Vietnam's IPO is broadly supportive of the report. Progress has been made and there is more to do. They said at BASCAPS's report launch.
In a separate step Vietnam’s Ministry of Industry and Trade has recently released amendments to the IP laws to comply with the CPTPP (see here for background). Among the amendments are:
The draft law has been submitted to the National Assembly for their review and adoption.