Creating a stronger driving force for national branding

In recent years, Vietnam has been considered a bright spot in the picture of building and developing a global national brand. However, to develop a national brand in a sustainable way, many long-term solutions are still needed.

Fast brand growth

Prime Minister Pham Minh Chinh once affirmed that building a national brand is a task of special importance, both urgent and strategic, with a wide scope, many things to do with great impact and influence. In Decision No. 1320/QD-TTg approving the Vietnam National Brand Program from 2020 to 2030, the Government set a goal that Vietnam will strive to have over 1,000 products achieving national brands by 2030, contributing to affirming that Vietnam is a country with quality goods and services and high competitiveness in the international market.

Many strong, valuable corporate brands will enhance brand image.
Vietnam country

The goal is gradually becoming a reality when in recent years, Vietnam has always been considered a bright spot in the picture of building and developing global national brands. According to Brand Finance, despite the negative impacts of the Covid-19 pandemic and political conflicts around the world, Vietnam's national brand has the fastest growth rate in value in the world, with an increase of 74% in the period 2019-2022. In the Top 121 Strongest National Brands in the World assessment table of this organization, in 2023, Vietnam's national brand was ranked 33rd/121.

To have a strong national brand, it is necessary to have large brand enterprises. For example, Viettel is the only Vietnamese enterprise in the "Top 500 Most Valuable Brands in the World 2023" (Global 500) and ranked 234th. In addition, Viettel continues to maintain its No. 1 position in telecommunications brands in Southeast Asia and is in the top 3 most valuable brands in the region. Or Vinamilk continues to maintain its 6th position in the top 10 most valuable milk brands globally and the top 2 strongest global brands in the dairy industry; Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ) has a brand value that has increased by 43%, reaching 1.9 billion USD... In terms of product lines, Vietnam has affirmed its national brand in the international market such as pepper ranked 1st; rice, coffee, cassava ranked 2nd; seafood ranked 5th...

Building brands from businesses and localities

However, in addition to the positive signals, there is still much work to be done in building the Vietnamese national brand. According to experts, due to the difficult economic situation, businesses have limited resources; some businesses are not fully aware of the mission of building a national brand, so they have not paid due attention to investing; advertising and image promotion on mass media have not been carried out synchronously by businesses, and there are few high-value brand logos.

Mr. Thai Nhu Hiep, Chairman of the Board of Members of Vinh Hiep Company Limited, admitted that, not to mention the national brand, building and positioning the brand for the enterprise's own products in the international market is already a difficult problem, especially in the context of the market setting many strict standards, along with increasingly fierce competition. To build a product brand in the international market, enterprises must understand consumer culture, invest in production technology, and develop raw material areas. Meanwhile, most enterprises are having difficulty with capital, quality human resources, and market understanding.

An expert said that the increase in the ranking of the national brand does not mean that it will always be a bright spot. Therefore, more solutions are needed to continue to create momentum to build a stronger national brand in the coming time. In particular, it is necessary to strengthen activities to improve the capacity of building, developing and managing brands for businesses, especially meeting the criteria system of the Vietnamese national brand; Build programs, projects, plans to build and develop brands from the central to local levels, approaching the general trend of the world to build national brands and regional, local brands.

Economist Vu Vinh Phu said that well organizing the registration of trademark protection abroad, researching, granting geographical indications and promoting processing, deep processing, creating added value, will contribute to gradually building a sustainable national brand.

Minister of Industry and Trade Nguyen Hong Dien recommended that in the context of our country's deep integration into the international playing field, many developed markets have paid more attention to promoting trade development associated with green development and sustainable development. In order not to be eliminated from the "game", building a "Green Vietnam National Brand" has become very important and necessary. If built well, it will be an opportunity for us to effectively utilize free trade agreements and meet the requirements of demanding markets such as the US, Japan, Europe, etc. To do this, it requires businesses to be very well prepared as well as integrate innovative applications, following new technology directions, green technology, environmentally friendly from raw materials to machinery and equipment, to products and business processes that are environmentally friendly...

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