Bringing Vietnamese brands abroad
In recent years, many Vietnamese products have made their mark on the world when a series of products from Vietnam have appeared on the shelves of the world's distribution system. Notably, many wood, textile, agricultural, food products, etc. are gradually being exported under their own brands, instead of being processed as before. This helps businesses earn many times higher value.
Mr. Le Duc Nghia, Chairman of the Board of Directors of An Cuong Wood Joint Stock Company, said that up to now, the company has received export orders until the end of November and domestic orders until the end of August-September 2024. Exporting under its own brand has helped the company gain profits 3-4 times higher than processing. "If in the past, when doing processing, the company only earned 2-3% profit in the total order value, now it has increased to 8-10%," said Mr. Nghia.
Currently, the company focuses on two main markets, the US and Japan, of which the US market accounts for 85%. The company actively participates in trade fairs abroad, especially in the US, to promote its brand and find customers. Each year, the company spends about 3% of its total revenue on brand building.
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| Meet More brand agricultural coffee was introduced at a supermarket in Australia during the recent Tet holiday and received positive feedback, helping Global Trade Links Company Limited (the owner of the Meet More brand) reap impressive orders for 2024. |
Regarding the food sector, Ms. Le Thi Giau, Chairwoman of the Board of Directors of Binh Tay Food Joint Stock Company, said that products such as vermicelli, rice noodles, pho, and noodles under the brands La Bo De and Simply Food of the company are being exported to markets such as Korea, the US, Canada, and Australia and are popular with consumers. In the first months of the year, the company received a lot of orders. Although operating at full capacity, it still could not meet the orders, so the company had to expand its scale.
According to Ms. Giau, Binh Tay Food Joint Stock Company currently has enough export orders for the whole year, even though its production is not enough to sell. The company plans to export about 800-1,000 containers this year and expects revenue to increase by more than 300%.
"In addition to serving the domestic market, this year export orders increased by double digits in the first months of the year," said Ms. Giau, adding that the company's vermicelli, glass noodles, and pho are very popular in the US and Canadian markets.
In fact, An Cuong wood or Binh Tay noodles and pho are just two of many Vietnamese brands exported abroad. In recent years, many "Made in Vietnam" products have successfully gone abroad with their own brands such as: Trung Nguyen Coffee, Vinamilk milk, Hoang Hau dragon fruit, Com Viet Nam rice, Meet More agricultural coffee... opening up great opportunities for exporting goods with their own brands to the world market.
These are positive results that have a ripple effect on potential markets, thereby creating motivation and favorable conditions for Vietnamese export industries and enterprises to increase their markets or brand value in traditional markets, while also approaching and penetrating new markets.
According to the assessment of the world's leading brand valuation consultancy - Brand Finance, Vietnam's national brand has a growth rate of 102% in the period from 2019 to 2023. The national brand value in 2023 reached 498.13 billion USD, an increase of 15.6% compared to 2022 and has continuously grown by double digits over the past 5 years, ranking 33rd in the top 121 strong national brands in the world.
Maintain the quality and brand of Vietnamese goods
According to experts, it is difficult for businesses to improve the quality and build a Vietnamese brand, and it is even more difficult to maintain the quality and brand. Mr. Nguyen Lam Vien, Chairman of the Board of Directors of Vinamit Joint Stock Company, shared that in the past, businesses often only talked about quality, but now they also have to talk about clean technology and environmental protection. These are factors that make consumers trust and use the products.
To do this, businesses must proactively learn and familiarize themselves with similar and appropriate ways of operating and doing business so as not to be left behind or out of date in terms of technology and new ways of approaching customers. In particular, the application of science and technology to promote green - clean - sustainable production to meet integration standards is extremely important.
“Not only in the export market, but also in the domestic market, the trend of green and sustainable consumption is being welcomed by many consumers. Therefore, the company will continue to develop the trend of clean and safe production, while promoting market development and enhancing competitiveness,” Mr. Nguyen Lam Vien emphasized.
To continue building brands and increasing export value for Vietnam's key products, in 2024 and the following years, the Ministry of Industry and Trade affirms that it will synchronously implement many solutions to support businesses. Specifically, the Ministry of Industry and Trade will focus on 3 groups of solutions: The first group is to raise social awareness. The second group is to improve the capacity to support Vietnamese businesses to have the capacity to build and manage brands approaching the criteria of the National Brand program. The third is to promote the promotion of national brands.
At the same time, the Ministry of Industry and Trade also recommends that businesses need to comply with fair business principles, build sustainable development strategies, and evaluate brands to optimize brand value growth plans and accelerate in the coming years.
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