Lesson 1: The value of national brands has increased dramatically

Building the image and position of national goods

For many years, Vietnam has not only been considered by the world as a bright spot in the picture of economic recovery and development, but also in brand building and development. Among them, Vietnam's leading brands not only have outstanding improvements in both brand value and brand strength index but also gradually catch up with global trends.

Accordingly, in the 5-year period from 2019 to 2023, Vietnamese national brands have the fastest value growth rate in the world of 102%. Specifically, in 2019, Vietnam's national brand value was only valued at 247 billion USD, and in 2023 it will reach 498,13 billion USD, recording a continuous growth in double-digit brand value percentage. .

The increase in national brand value has demonstrated the efforts and role of businesses in improving quality and "bravely" entering difficult markets. Photo: TTXVN

Besides, if in the early 2000s, the brands of Vietnamese businesses did not appear in the rankings of international organizations, then by 2022, according to Forbes Vietnam's rankings, the total value of the top 50 brands reached over 36,6 billion USD, an increase of 36% compared to 2021, of which, businesses with products achieving Vietnamese national brands account for over 60% of the number of businesses in the top 10.

According to experts, the "sweet fruit" of the growth rate of national brand value is the result of efforts in many aspects: politics, diplomacy, economics, culture, and society. This has affirmed the impressive achievements of the economic and trade integration process through vibrant and strong production, import and export activities.

Talking with reporters from Industry and Trade Newspaper, economic expert - Dr. Nguyen Minh Phong commented that this is the result of the correct guidelines and policies and efforts of the Party, State and Government on reforming the business investment environment and expanding bilateral and multilateral relations. , import and export support.

Along with that, according to economic expert Nguyen Minh Phong, the outstanding increase in brand value has recognized the dynamism and creativity of Vietnamese businesses; Enterprises have constantly strived to overcome many difficulties and challenges to build, develop and manage product and corporate brands, contributing to increasing the value of the Vietnamese national brand in the international arena. .

In addition, according to Brand Finance's 2023 report, the brand value of Vietnamese national brand enterprises will have strong growth in the telecommunications, banking, and food industries. Assessing this result, Mr. Nguyen Minh Phong said that brands in the fields of finance, food, and telecommunications all have in common the effort to invest in technology and aim at community value, from there. There have been outstanding improvements in both brand value and brand strength index, contributing to improving its solid position in the rankings.

Sharing the same opinion, Mr. To Hoai Nam - Vice President and General Secretary of the Vietnam Association of Small and Medium Enterprises emphasized that the increase in national brand value has demonstrated the efforts and role of businesses in improving quality, "bravely" entering difficult markets with many strict regulations such as the US, EU, Japan... “The right-directed efforts of the business sector have contributed very importantly to Vietnam's impressive results in building and developing the national brand.”- Mr. Nam said.

Economic expert - Dr. Nguyen Minh Phong: "Enterprises have constantly strived to overcome many difficulties and challenges to build, develop and manage product brands." Photo: Can Dung

Also according to experts, to gain rankings and increase brand value must include the effective impact and motivation of the Vietnam National Brand Program in supporting the building and promotion of images and brands. Vietnam, famous product brands, strong corporate brands, leading enterprises in the market.

Recognized from the Ministry of Industry and Trade, recently, with the support of the Vietnam National Brand Program, many Vietnamese corporations and businesses have been aware of the important role of brands as the key to helping Increase product value and business value. As proof, many Vietnamese brands have resonated in the regional and world markets.

Regarding product brands, Viettel is an example. Viettel is the only Vietnamese enterprise listed in the "Top 500 most valuable brands in the world 2023" (Global 500) and stands at position 234. In addition, Viettel continues to maintain the number 1 position in brand telecommunications in Southeast Asia and is among the top 3 most valuable brands in the region.

Especially in terms of dairy products, Vinamilk is also a typical example as it continues to maintain the 6th rank in the top 10 most valuable dairy brands globally and the top 2 strong global brands of the dairy industry according to Brand Finance's ranking. Based on the foundation of a national brand, TH True Milk has also made significant progress in the world market when many countries accepted trademark protection. In the domestic market, businesses expand investment in projects in many provinces and cities. TH True Milk has become a familiar brand trusted by consumers.

Create motivation to build brands for businesses

A country with many businesses with strong brands, according to Mr. Nguyen Minh Phong, will be an important foundation to enhance a country's brand. Accordingly, brands play an increasingly important role in the competition and development strategy of each business, industry, locality and country.

Awareness of branding for businesses' products is still limited and difficult. Photo: TTXVN

However, commenting on the picture of Vietnamese brands, many experts believe that there are still many unclear areas when there are not many strong brands because businesses themselves have limited resources and not many businesses are aware of their mission. Branding.

According to the Business Survey Report of the Ministry of Industry and Trade in 2020, the impression of the symbolic image of Vietnamese products and goods is still lackluster, because only 20% of businesses invest in branding and only focus on building brands. important registration in Vietnam, not registered in foreign markets, lack of interest in brand exploitation and management. The work of promoting images on mass media has not been carried out synchronously by businesses, and there are few high-value logos appearing.

In particular, reputation and product quality are the two factors that are often focused first when mentioning brands (63,4%). However, nearly 50% of businesses do not have a dedicated marketing or branding department; 49% of businesses are directly directed by the board of directors. Most people with brand management roles are trained domestically, except for a very few (less than 5%) who are trained abroad. Up to 20% of businesses do not invest in branding costs. Over 70% of businesses invest less than 5% of sales in building and developing their brands...

Agricultural expert Hoang Trong Thuy: "The ideology of processing and trading is still heavily emphasized, so most businesses are not interested and afraid to build their brands." Photo: Can Dung

Sharing about the difficulties and limitations in branding of businesses and industries, agricultural expert Hoang Trong Thuy said that the market is increasingly demanding the quality of products and services in addition to the Large enterprises, almost all domestic enterprises focusing on agriculture and processing, lack the resources to create products that meet brand standards. Therefore, many businesses are reluctant to work, afraid to invest in building their brand and often rely on large businesses and corporations.

Along with that, with market fluctuations, consumer trends are constantly changing according to Mr. Hoang Trong Thuy, making businesses wonder whether the product will enter the market or not. Therefore, businesses are less interested in investing in brand building for stable, long-term development. On the other hand, the ideology of outsourcing and trading is still heavily emphasized, so most businesses do not pay attention to building their brands.

“In particular, the Overlapping management Invisibly between ministries and sectors are making it difficult for businesses to build their brands; as The number of products that have built brands and are registered for trademark protection and geographical indications in both domestic and international markets is still limited. Therefore, most goods are still exported through intermediaries without legal status”- Mr. Thuy stated his opinion.

Although it is one of the successful businesses in affirming its brand not only domestically but also in the international market, referring to building and positioning product brands, the company's Chairman of the Board of Members Vinh Hiep LLC - Mr. Thai Nhu Hiep - had to admit that this is a difficult problem, especially in the context of the market setting many strict standards, along with increasingly fierce competition.

For coffee production and export businesses, according to Mr. Thai Nhu Hiep, the difficulty is even greater in building a brand. Because, according to him, to build a product brand in the international market, businesses must understand consumer culture as well as prove that they meet environmental and social conditions and criteria. Accordingly, forcing businesses to invest in production technology, as well as develop raw material areas. While facing difficulties, most businesses are having difficulty with capital, quality human resources, and market understanding.

"Want reaching out to the great sea, Vietnamese enterprises cThere's a lot to do. In particular, nowadays the FTA is là Bright opportunity to export goods but enterprise must identify what needs to be done , and What can you do in the integration "playground"?. So, Goverment, ministries and branches need have support policies enterprise remove difficulties in market development, building product and industry brands for businesses"- Mr. Hiep commented.

Lesson 2: Building and developing national brands and initiatives create new value and strength for the country