Prime Minister Pham Minh Chinh visits a display of products that won Vietnam National Brands in 2022. (Photo: VNA)
Hanoi (VNA) - In Brand Finance's top 100 brands in the world, Vietnam's national brands rank in the top half of the list and have steadily increased over the years.
Over the years, the business community whose products were honoured as Vietnam National Brands have contributed significantly to the country's economic development and social stability.
According to Brand Finance, Vietnam is considered to be a bright spot in building and developing national brands with the fastest recent value growth in the world (up 74% in the 2019-2022 period).
Besides the development of the Vietnam National Brand, the brand value of Vietnamese enterprises has also increased sharply. The total value of the top 50 brands in the country grew by 36%.
On the occasion of Vietnam Brand Day (April 20), Mr. Hoang Minh Chien, Deputy Director of the Trade Promotion Department under the Ministry of Industry and Trade gave an interview on building and promoting products’ brands.
-After nearly 20 years of implementing the Vietnam National Brand Programme and 8 rounds of voting, please tell us how many businesses and products were honoured as well as how they make contributions to building national brands?
Mr. Hoang Minh Chien: Under the direction of the Government, and the participation of stakeholders, the Vietnam National Brand Programme over the past 20 years of development has achieved many encouraging results.
The greatest achievement is the awareness of the role of building, developing, and protecting the brands.
This can be seen in the number of businesses and people showing interest in the National Brand Programme, which has steadily increased over the years.
For example, in 2008, the first year the Programme took place, only 30 enterprises had products selected as Vietnam National Brands. By 2022, 172 enterprises had National Brands, an increase of nearly 6 times compared to 2008.
TH Group is honored at the Vietnam National Branding Programme Announcement Ceremony in 2022. (Photo: Xuan Quang/Vietnam+)
With the support of the National Brand Programme, many Vietnamese businesses are aware of the importance of branding, so they have seriously invested in building and developing product and business brands.
As a result, in the top 50 Most Valuable Corporate Brands in Vietnam in 2022, there were many businesses with products honoured.
- Could you specify the contributions made by businesses in improving the value of products honoured as National Brands?
Mr. Hoang Minh Chien: The value and position of the National Brands and the enterprises whose products have been chosen have increased steadily over the years.
Brand building and development activities, with the core being the National Brand Programme, have actively contributed to the growth of Vietnam's brand value over the years.
Brand Finance - the world's leading independent brand valuation and strategy consultancy based in the UK, said Vietnam is positive in building and developing a global national brand.
According to this organisation, despite the negative effects from the COVID-19 pandemic and political conflicts in the world, Vietnam National Brand has some of the fastest value growth in the world, with an increase of 74% in the 2019-2022 period.
Specifically, according to a report from Brand Finance, brand value in Vietnam in 2020 increased by 29.1% compared to 2019, reaching 319 billion USD.
In 2021, it increased by 21.6% compared to 2020 (388 billion USD) and in 2022, it increased by 11.1% compared to 2021 (431 billion USD).
In Brand Finance's Top 100 Strong National Brands in the World, Vietnam is in the top half of the rankings and has steadily increased over the years. In 2022, Vietnam ranked at 32/100.
Many Vietnamese brands have affirmed their position in the regional and world markets.
In the early 2000s, Vietnamese brands did not make the international rankings. In 2022, according to the ranking of Forbes Vietnam, the total value of the top 50 brands reached over 36.6 billion USD, an increase of 36% compared to 2021.
Enterprises honoured as Vietnam National Brands accounted for over 60% of the number of enterprises entering the top 10.
- Themed "Positioning Vietnam’s Green National Brand", the Vietnam National Branding Forum is considered as a prominent event to celebrate Vietnam Brand Day (April 20). Could you please share the reason why the Ministry of Industry and Trade chose this topic and the tasks set for the activity?
Mr. Hoang Minh Chien: The Vietnam National Brand Forum is an annual event under the Vietnam National Brand Week.
The event is aimed at creating an in-depth, multi-view dialogue that attracts a large number of participants from management agencies, domestic and foreign organisations as well as businesses related to brand building and development.
The forum has over the years offered a separate topic for in-depth analysis, associated with the economic situation and global fluctuations.
The current consumer trend has gradually shifted to environmentally friendly products, so green production is one of the advantages that help businesses enhance their brands to attract consumers.
Vietnam National Branding Programme Announcement Ceremony is an opportunity to recognise and honor products with top quality, high scientific and technological value. (Photo: Vietnam+)
Carrying out green production is also a good opportunity for us to make effective use of free trade agreements and meet the requirements of demanding markets such as the US, Japan, and Europe.
However, the trend of green living and green consumption also poses a new problem for Vietnamese businesses to match the general development trend and improve their position and competitiveness in both domestic and foreign markets.
Specifically, businesses need to improve social responsibility, business ethics, ensure compliance with environmental regulations, utilize innovative technology, and improve production efficiency.
That is why the Ministry of Industry and Trade has chosen the topic "Positioning Vietnam’s green national brand" for the Vietnam National Brand Forum in 2023./.
