More efforts needed to bring Vietnamese brand to int’l level

Trade promotion programmes help boost goods consumption. (Photo: VietnamPlus)

Hanoi (VNA) - Vietnam must have specific products of high quality to make its national brand reach international level, heard a conference hosted by the Ministry of Industry and Trade in Hanoi on November 28.

Participants at the conference said that trademarks should be included in the “Vietnam Value” Programme. After 16 years, the programme has been spreading widely, contributing to developing and protecting trademarks and enhancing the brand value.

However, in a new context, the programme needs to create a highlight and serve as an effective tool to promote the image of the country, making greater contributions to the economy, they said.

Vietnamese brand climbs 8 places in global rankings

The “Vietnam Value” is the only programme of the Vietnamese Government conducted to promote the national image and brand through product trademarks.

This is a special, long-term trade promotion programme that has been implemented since 2003. The programme aims to promote the image of Vietnam as a country with quality goods and services, thus creating reputation and improving the competitiveness of Vietnamese enterprises in the domestic and international markets.

According to Nguyen Thi Hong Van, head of the Trade Promotion Capacity Development Department under the Vietnam Trade Promotion Agency, the number of enterprises with products recognized as national brands has raised from 30 in 2008 to 97 ten years later.

In addition, most businesses with products recognized as national brands have attained profit growth and made positive contributions to the country’s economic growth.

Statistics show that in the early 2000s, no Vietnamese brands appeared in the rankings of international organizations. By 2019, according to the rankings of Forbes Vietnam, the total value of the top 50 Vietnamese brands reached over 9.3 billion USD, half of them were national brands, such as Thaco, Hoa Phat, Vinamilk, Vietcombank and Vietnam Airlines.

Delegates at the conference. (Photo: VietnamPlus)

According to Hoang Minh Chien, Deputy Director of the Vietnam Trade Promotion Agency, in the ranking of the 100 most valuable national brands in the world in 2019 by Brand Finance, Vietnam’s National Brand is valued at 247 billion USD, up 12 billion USD (equivalent to a 5.4 percent rise) compared to 235 billion USD announced in 2018.

Notably, in the past three years, the rank of Vietnam’s National Brand has continuously improved, up 8 places and named in the group of strong brands, thanks to the Government's efforts in reforming the business investment environment, improving export and import achievements, and supporting product and corporate brands.

Over 1,000 products recognized as national brands by 2030

In the new context, when Vietnam integrates more deeply into the world and participates in a series of signed free trade agreements (FTAs), the “Vietnam Value” Programme needs changes to suit reality.

According to Samir Dixit, Managing Director of Brand Finance Asia Pacific, the “Vietnam Value” Programme needs solutions to help strong domestic products and brands reach out to the world.

For example, Vietnamese businesses need to focus more on the brand, not only the product, he said.

Businesses with products recognised as national brands in 2018 (Photo: VietnamPlus)

The representative of the Vietnam Trade Promotion Agency said that the “Vietnam Value” Programme in the new period will combine the goods and service brands of enterprises with diplomatic activities, investment, culture and tourism promotion, thus making the Vietnamese national brand positive and attractive to importers, tourists, investors, workers and consumers on domestic and international markets.

Especially, in the period from 2020 to 2030, the programme will attach the building and development of Vietnamese brands to positive and outstanding values of the product brands with specific goals. The implementation will match with the country’s import-export strategy, targeting to lift export turnover of national brand products higher than the average export value.

The programme also targets a 10 percent rise in the number of the most valuable brands listed by the world’s major ratings agencies. All products that obtain national brand recognition will be promoted in the domestic and key export markets.

The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade will sign a cooperation agreement with Brand Finance on training, brand communication and promotion campaign on Vietnamese brands and businesses. The two sides will also work out specific plans to support brand development for potential products such as food, textile, footwear and wood furniture./.