Hanoi (VNA) – Innovation has been seen as a critical stepping stone for technological mastery and unique product development, helping enterprises build strong brands, according to the Ministry of Industry and Trade (MoIT).
Over the recent past, the brand names of Vietnamese firms have gained increasing prominence, demonstrating substantial improvements in both value and strength metrics while firmly establishing their position on the global economic map, the ministry reported.
Vietnamese brands stretch their reach to the world
Vietnamese businesses now operate across virtually all production and trading sectors. Many companies have not only made their mark domestically but have also gained international recognition, enhancing Vietnam's global standing, with industry leaders including Viettel, Petrovietnam, Vingroup, FPT, THACO, Hoa Phat, TH, Vinamilk, and Masan.
Many firms have mastered technologies, pioneered innovation initiatives, shaped up their own brands, and established an ecosystem for small and medium-sized enterprises. Besides, they have also led digital and green transformation efforts while joining hands to address major national challenges.
Sharing Vinamilk’s brand development strategy aligned with sustainability, Marketing Executive Director of Vinamilk Nguyen Quang Tri said that the company has focused on consumer needs, international-standard quality products, and sustainable raw material development. Other priorities include digital transformation, export expansion, green development, and community responsibility.
A report from Brand Finance showed Vietnam's nation brand value has shown consistent growth, increasing 29.1% from 2019 to reach 319 billion USD in 2020, 21.6% to 388 billion USD in 2021, 11.1% to 431 billion USD in 2022, and 498 billion USD in 2023.
Notably, Vietnam's nation brand was valued at 507 billion USD in 2024, ranking 32nd among 193 countries and territories, up one position and 2% in value compared to the previous year.
Deputy Director of the Institute for Brand and Competitiveness Strategy Doan Duc Thuan said different industries require varied investment levels and branding approaches.
Resource-rich sectors like energy, consumer goods, and banking develop brands through maintenance and phase roadmaps, while manufacturing and high-tech industries, with less spending on branding, build brands through product excellence and customer advocacy, allowing quality to speak for itself with communications serving as a supporting element.
Creating breakthroughs from innovation
The Prime Minister designated April 20 as Vietnam's Brand Day to honor and promote Vietnamese brands and national image in 2008. This initiative aims to inspire government agencies, sectors, businesses, and communities to participate in building corporate and national brands.
Developing and enhancing “Vietnamese brands” has garnered significant attention from the Government, localities, businesses, and individuals. Building a reputation for diverse and high-quality goods and services is necessary for enterprises to strengthen their competitiveness in international markets.
Deputy Director of the MoIT’s Trade Promotion Agency Hoang Minh Chien stated that Vietnam has gradually affirmed itself as a country with high-quality products and strong innovation spirit.
He further noted that companies aiming for market leadership must build on innovation foundations, while those seeking to maintain superior quality also need continuous technological advancement and product improvements to better consumer experiences.
Quality – Innovation – Pioneer Capacity shape up the core value of the national brand programme “Vietnam Value”, which has been carried out since 2003, he said, adding innovation serves as the heart of each brand and the energy source helping companies continuously improve, adapt quickly to changes, and gain leading positions in the competitive global environment.
Assessments from major brand organisations show that leading brands aren't distinguished merely by scale, but primarily by breakthrough products, innovation, and the continuous introduction of new offerings and values that create distinctive identities in global markets.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said innovation is the "key" to improving productivity and quality while creating differences in the fiercely competitive global environment. As technology develops rapidly, the digital economy expands, and green-clean-smart consumption trend rise, Vietnamese businesses must proactively adapt and take the lead in innovation.
He expressed his hope that with the support from the Party and State, engagement of ministries and sectors, as well as enterprises’ efforts, the nation brand of Vietnam will continue to thrive, making substantive contributions to the national industrialisation and modernisation./.
