Businesses winning national brand award in 2018. (Photo: VNA)
Hanoi (VNA) - Vietnam’s national brand in 2019 was valued at 247billion USD by Brand Finance, upꦉ 12 billion USD compared to2018.
According to this year’s valuation,Vietnam’s national brand moved up one place from the 2018 rankings to stand42nd among the world’s 100 mostvaluable national brands.
The ranking takes into account factorsincluding value of product brands and large companies in the economy, improvements in the business and investment environmentand forecasts on GDP growth and import-export growth.
According to the Ministry of Industryand Trade (MoIT), Vietnam’s national brand has edged up eight places over thepast three years, attributableto the Government’s efforts to reform the business and investment environment, promote exports and support enterprises, as well as the positiveforecasts on GDP growth and the Vietnam Value Programme.
‘Vietnam Value’, introduced in 2003,is the Vietnamese Government’s unique and long-term trade promotion programmewhich aims to introduce and promote the prestigious and quality product brandsof the country.
Over the past 15 years, the programme hashelped raise awareness of ministries, sectors and businesses about theimportance of building, developing and protecting brands. It has also honouredmany prestigious products and enterprises, as well as supported localbusinesses in improving capacity and building their brand.
In the early 2000s, no Vietnamese brandsappeared in the international rankings, while by 2019, the total value of thetop 50 Vietnamese brands reached more than 9.3 billion USD, according to Forbes rankings, of which 50 per cent are national brandssuch as Thaco, Hoa Phat, Vinamilk, Habeco, Vietcombank, Vietnam Airlines, Cadivi, Viglacera andSaigontourist.
For 2020-30, the national brand programmewill attach the building and developing Vietnamese brands to positive andoutstanding values of the product brands with specific goals. Theimplementation will match with the country’s import-export strategy, targetingto lift export turnover of national brand products higher than the averageexport value.
The programme also targets a 10 percentrise in the number of the most valuable brands listed by the world’s majorratings agencies. All products that obtain national brand recognition will bepromoted in the domestic and key export markets.
The Vietnam Trade Promotion Agency (Vietrade) under the Ministry ofIndustry anꦜd Trade will sign a cooperation agreement with Brand Finance ontraining, brand communication and promotion campaign on Vietnamese brands andbusinesses. The two sides will also work out specific plans to support branddevelopment for potential products such as food, textile, footwear and woodfurniture./.
