The Vietnam Directorate of Market Surveillance (DMS) and French luxury goods conglomerate Moet Hennessy – Louis Vuitton (LVMH) has inked a memorandum of understanding on cooperation in fighting counterfeits and violations of intellectual property (IP) rights.

Representatives of the Vietnam Directorate of Market Surveillance and
Moet Hennessy – Louis Vuitton (LVMH) sign the MoU on anti-counterfeit cooperation
in Hanoi on May 7 (Photo: VNA)

The memorandum aims to promote cooperation in eradicating counterfeits and exercising IP rights of the companies represented by the LVMH in Vietnam.

At the signing ceremony in Hanoi on May 7, DMS General Director Tran Huu Linh said counterfeits are rampant in Vietnam at present, especially items faking famous brands of big firms like the LVMH.

However, many local businesses are still reluctant to work with authorised forces. Therefore, it will be hard to identify a fake product without coordination between brand owners and law enforcement agencies like the DMS.

He said the coordination with the LVMH will be an example of the DMS’s cooperation with foreign businesses in combating fake goods and IP infringement in Vietnam.

Director of Assets and Persons Protection at the LVMH Laurent Marcadier said businesses are unable to fight fake goods by themselves. Therefore, the strategic cooperation with authorised forces, including the DMS, is key to this work.