RCEP and the brand gap of Vietnamese enterprises

Export a lot but brand is obscure

The Regional Comprehensive Economic Partnership (RCEP), which officially took effect on January 1, 2022, is expected to be a turning point that creates a new momentum, promoting trade and investment cooperation between Vietnam and its member countries. After more than 3 years of implementation, RCEP has brought about impressive export growth, serving as a "highway" for Vietnamese goods to reach potential markets.

Vietnamese seafood is one of the products that is particularly favored by the RCEP market. According to the Customs Department, in 2024, Vietnam's seafood exports will reach more than 10 billion USD, an impressive result in a difficult context. In the first 8 months of 2025, our country's seafood export turnover will reach about 7.15 billion USD, an increase of 13.5% over the same period in 2024.

*Vietnam's seafood exports to the RCEP market will continue to increase in the coming time as the competitiveness of Vietnamese seafood products increases - Photo: Binh Nguyen*

Major import markets for Vietnamese seafood products in the RCEP bloc such as China, Japan, South Korea, ASEAN, etc. all had positive growth rates. Notably, seafood exports to China in the first 8 months reached 1.42 billion USD, up nearly 39%; Japan reached 1.1 million USD; South Korea reached 558 million USD.

It is forecasted that by 2025, our country's seafood export turnover could reach 11 billion USD if businesses continue to exploit the FTA market in general and RCEP in particular.

Along with seafood, many other products have also seen growth when exported to the RCEP market bloc in recent times.

According to experts, the benefits from the RCEP Agreement are huge, however, many Vietnamese enterprises have not yet taken full advantage of those benefits. Notably, although many Vietnamese goods are exported to this market bloc, it is very difficult to find a separate brand in the market, few enterprises focus on developing their own brands to be able to firmly stand in this market.

Ms. Trinh Huyen Mai, Deputy Head of Trade Promotion Policy Department, Trade Promotion Agency ( Ministry of Industry and Trade ) said that most Vietnamese enterprises are currently small and medium-sized enterprises, mainly exporting through processing chains or exporting raw materials as input for manufacturers and processors abroad. Then, the products are processed, packaged and exported by foreign partners under their brands. This makes the added value and private brands of Vietnamese goods in the international market still modest.

In reality, only a few businesses with potential, market understanding and well-developed strategies are successful in developing their own brands, while the majority still face difficulties in capital, technology and competitiveness.

Aspiration of "brand exporting nation"

According to Dr. Nguyen Minh Phong, an economic expert, many Vietnamese enterprises are still struggling with the problem of brand building, especially in the context of deep integration. The biggest weakness is the low starting point, lack of long-term vision and a systematic brand management foundation. Most enterprises only focus on production and short-term revenue without considering brands as strategic assets, leading to the situation where Vietnamese products have quality but do not have a clear position on the international brand map.

"Meanwhile, countries in the bloc such as Japan, South Korea, and China have spent decades seriously investing in developing globally competitive brands. This systematic investment has helped them control the entire value chain, from production to distribution, building trust with consumers and increasing product value," Mr. Phong said, emphasizing that many Vietnamese businesses are still stuck in the role of processing, dependent on the market and lacking initiative in brand positioning.

Therefore, the expert believes that in order for exports to become a sustainable driving force, Vietnamese enterprises need to change their thinking, shifting from low-cost approaches to focusing on creating value and brands. Market expansion must be associated with improving product quality, strengthening business reputation, thereby raising the national position. Instead of chasing quantity, exports need to aim for added value, affirming Vietnamese brands through quality and differentiation. This is the foundation for Vietnamese goods to stand firm and conquer the international market.

*Vietnamese passion fruit officially recognized for official export to Australia - Photo: Nafoods Group*

On the business side, sharing at the 2025 Private Economic Forum, Mr. Nguyen Manh Hung, CEO of Nafoods Group, said that 30 years ago, the group set a goal of building a brand and gradually positioning itself on the international map. To date, Nafoods has become one of the leading agricultural processing and exporting enterprises in Vietnam. The group's products are present in more than 70 countries and territories, of which passion fruit is the main product, bringing Nafoods to the Top 3 in Asia in terms of export, while accounting for 10% of the global market share.

According to Mr. Hung, this success is the result of a methodical investment strategy and long-term vision. In the coming period, Nafoods is committed to continuing to promote digital transformation, applying artificial intelligence (AI), IoT sensors and circular value chain management models... this is a strategic step to increase added value and build the brand of Vietnamese agricultural products in the international market.

"Nafoods is committed to accompanying the Government and the business community in the mission of helping Vietnam escape the image of a "raw material exporting country", aiming to become a "branded exporting country", Mr. Hung emphasized and expressed his hope that Vietnam will rise to become the world's center for processing and exporting sustainable agricultural products, providing green, safe and natural agricultural products and solutions, meeting global consumption trends and contributing to enhancing the country's position.

The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between 10 ASEAN countries and 5 partners: China, South Korea, Japan, Australia and New Zealand. The agreement accounts for about 30% of global GDP. Effective from January 1, 2022, RCEP creates the world's largest free trade area and is expected to eliminate up to 90% of tariffs within 20 years among members.

Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/dinh-vi-thuong-hieu-la-con-duong-giup-viet-nam-nang-tam-xuat-khau-trong-thi-truong-rcep-tao-loi-the-canh-tranh-ben-vung-.html

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