Private enterprise:

With a strong spirit of innovation, many private enterprises have pioneered investment in technology research and development, improving product quality and brand strategy, creating products and services that are not only of high quality, but also imbued with Vietnamese identity, gradually affirming their position in the international market.

Many private enterprises have grown strongly, becoming typical brands with influence and recognition in domestic and international markets.

Vinamilk has become the 6th ranked milk brand in the top 10 most valuable milk brands in the world.

The private sector is the majority.

According to the latest report published by Brand Finance, the value of Vietnam's national brand reached 507 billion USD, ranking 32nd in the world, up 1 place compared to last year. This is the result of the resonance of many factors, the most notable of which is the mark of pioneering private enterprises, such as VinFast, Vinamilk, Masan , Duy Tan, TH True Milk... These brands not only reach out to the world with product quality, but also build brand stories, innovation spirit and commitment to sustainable development.

To date, 190 enterprises with 359 products have been honored as National Brands, of which the private sector accounts for the majority. These enterprises generate revenue of up to VND2.4 trillion, contribute VND150 trillion to the budget and create jobs for more than 600,000 workers.

Typically, Vinamilk, a business that has made tireless efforts to bring Vietnamese brands to global standards, has become the 6th most valuable milk brand in the world and the 2nd strongest global brand in the dairy industry, according to Brand Finance's ranking.

Along with that are many other typical brands such as: TH Milk (TH Food Chain Joint Stock Company), Nafoods (Nafoods Group Joint Stock Company) in the field of agricultural products, food, beverages; PlasmaMED (Vietnam PLASMA Technology Joint Stock Company) in the field of high-tech medicine... These are all private enterprises that are striving to innovate, not only reaching out to the world with product quality, but also building a brand story, a spirit of innovation and a commitment to sustainable development, contributing significantly to building the image of a dynamic, creative, and responsible Vietnam in the eyes of international friends.

Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade) Hoang Minh Chien said that without the strong participation and persistent support of the private sector, the Vietnam National Brand program would hardly achieve the results it has today. In the context of globalization and increasingly fierce competition, the initiative of private enterprises in investing in technology, management, design and branding is a key factor contributing to positioning new values for Vietnamese goods and services, thereby contributing to raising the image of Vietnam.

Need support mechanism and synchronous participation

Although considered the main force in elevating Vietnamese brands, private enterprises still face many barriers when entering the international market. These challenges lie not only in capital, technology, human resources, but also in the lack of support from national brand support policies.

Sharing about this issue, Deputy Secretary General of the Vietnam Federation of Commerce and Industry (VCCI) Dau Anh Tuan said that Vietnamese enterprises' products are present in 200 countries and territories around the world, and have also created a very large national image. However, in reality, many Vietnamese brands have struggled when going abroad due to lack of intellectual property protection, lack of a systematic brand communication strategy, or being overwhelmed by Chinese, Thai, and Korean products in the same segment.

“Building a national brand is not just a single effort of businesses, but requires coordination between the State, industry associations, trade promotion agencies and the domestic consumer community,” said Mr. Dau Anh Tuan.

According to Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade) Hoang Minh Chien, in order to promote private enterprises to contribute more in the coming period; on the State side, ministries, branches and localities continue to promote the improvement of the business investment environment to ensure the maintenance and enhancement of sustainable business investment of private enterprises.

Along with that, the State creates mechanisms and policies to encourage private enterprises to apply science, technology and innovation, apply sustainable business models, cleaner production technology, use natural resources effectively, and protect the environment. The State will create an environment to promote creative entrepreneurship, support the improvement of labor productivity in enterprises; develop high-quality human resources, improve management and corporate governance capacity; strengthen the role of business associations and organizations in supporting private enterprises to develop effectively and sustainably...

On the business side, Mr. Hoang Minh Chien said that it is necessary to focus on developing high-quality products with unique identities, linked to the country's comparative advantages. At the same time, step by step standardize and digitize management and production processes according to international standards, thereby improving competitiveness, minimizing waste and flexibly adapting to fluctuations in the global market.

“Enterprises need to build a modern management model, focusing on people, encouraging innovation throughout the entire system. At the same time, innovating the distribution organization creates long-term reputation in the global market,” Mr. Hoang Minh Chien shared.

Source: https://hanoimoi.vn/doanh-nghiep-tu-nhan-luc-luong-chu-luc-gop-phan-nang-tam-thuong-hieu-quoc-gia-710539.html