All-round localization, joint development make TCL successful in Vietnam

He added, "When investing abroad, Chinese enterprises should have strong localization and high sense of responsibility for public benefit in the country they produce goods or do business."

After gaining a strong foothold in the Vietnamese market, especially in terms of brand recognition, TCL Vietnam continues to strive for greatness. Regarding consumers' awareness of a certain product, there are three levels: recognizing the brand, then getting to know the product's quality, and finally becoming loyal to it.

"Our current goal is raising the TCL brand to the second level and then the third as soon as possible," Deng elaborated.

According to TCL Vietnam's General Manager, Vietnam's economy will continue to develop at a high speed, making its sectors, especially economic ones, attractive to foreign investors. He predicted that the rosy future of Vietnam's economy, especially its purchasing power in association with the Chinese strategies of the Silk Road Economic Belt and the 21st Century Maritime Silk Road will bring about breakthroughs for both Chinese investors and Vietnamese consumers.

"Through the Silk Road Economic Belt and the 21st Century Maritime Silk Road, Vietnamese consumers will have a better understanding of Chinese enterprises, products and brands. Thus, they will choose Chinese products more frequently, helping bring Chinese brands to a new height," stated TCL Vietnam's General Manager.

The two strategies will help place China in a new position in the global market, which is beneficial to Chinese enterprises. Besides, the Chinese government's desire for more Chinese investors abroad will be realized and become more and more effective through the Silk Road Economic Belt and the 21st Century Maritime Silk Road, Deng explained.

He said that there is still room for the Vietnamese market to develop remarkably, while Vietnamese people's conceptions about the market and consumption are much similar to Chinese.

Vietnam and China have many things in common, including culture, manners and customs and even consumption habits. Vietnam relies on agriculture, and has a young population who find it easy to accept and embrace new things, including new brands and products. All of these prove that "what China has experienced is the future road of Vietnam," said TCL Vietnam's General Manager.

Founded in 1981, TCL is one of the largest consumer electronics enterprises in China with a global presence. It owns four listed companies, namely TCL Corporation, TCL Multimedia Technology, TCL Communication Technology and Tonly Electronics, with major consumer products including color TVs, mobile phones, air conditioners, refrigerators, washing machines and small appliances.

In 2014, TCL's brand value stood at 66.859 billion yuan (about $10.78 billion), continuing to be the number one brand of Chinese color TVs.