At the 44th ASEAN Working Group on Intellectual Property Cooperation which took place in Ho Chih Minh City, Vietnam from 30 June 2014 to 3 July 2014, the Intellectual Property Office of Singapore (the “IPOS”) signed a Memorandum of Understanding (the “MOU”) with the National Office of Intellectual Property of Vietnam to enhance cooperation between the two IP Offices. The MOU will see stronger collaboration in promoting IP utilisation and more assistance to businesses seeking IP protection in the Singapore and Vietnam markets. Areas of partnership will include:
- Quality administration and capacity building
- Technology transfer and commercialisation
- IP valuation
- Promotion of IP to small and medium enterprises (“SMEs”) and the public
It is expected that more initiatives will be announced that will foster and promote the protection of IP rights in Vietnam, particular for Singapore-based companies and SMEs.