In recent years, Vietnam has been considered a bright spot in the picture of building and developing a global national brand. However, for a national brand to reach out 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 and 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 by 2030, Vietnam will have over 1.000 products achieving national brand status. , contributing to affirming Vietnam as a country with quality goods and services and high competitiveness in the international market.
 |
| Many strong, high-value corporate brands will enhance brand image Vietnam |
The goal is gradually becoming a reality as in recent years, Vietnam has always been considered a bright spot in the picture of building and developing a global national brand. According to Brand Finance, despite the negative effects of the Covid-19 pandemic and political conflicts around the world, Vietnamese national brands have the fastest value growth rate in the world, with an increase of 74% in period 2019-2022. In this organization's evaluation table of the Top 121 strong national brands in the world, in 2023 the Vietnamese national brand is ranked 33/121.
To have a strong national brand, big brand businesses are needed. For 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. telecommunications brand in Southeast Asia and is among the top 3 most valuable brands in the region. Or Vinamilk continues to maintain the 6th rank in the top 10 most valuable milk brands globally and the top 2 strong global brands of the dairy industry; Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has had its brand value increase dramatically by 43%, reaching 1,9 billion USD... In terms of industry, Vietnam has affirmed its national brand in the international market such as Pepper ranked 1st; rice, coffee, and cassava ranked second; Seafood ranked 2th…
Building brands from businesses and localities
However, besides the optimistic signs, building Vietnam's national brand still has much work to do. 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 do not pay enough attention to investing; The work of advertising and promoting images on mass media has 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 Co., Ltd. admitted that, not to mention the national brand, building and positioning a brand for the enterprise's own products in the international market is already a task. difficult problem, especially in the context of the market setting many strict standards, along with increasingly fierce competition. To build product brands in the international market, businesses must understand consumer culture, invest in production technology, and develop raw material areas. Meanwhile, most businesses are facing difficulties in capital, quality human resources, and market understanding.
An expert acknowledged that a national brand increasing its ranking position does not mean it will always be a bright spot. Therefore, more solutions are needed to continue to create motivation to build a stronger national brand in the coming time. In particular, it is necessary to strengthen activities to improve the capacity to build, develop and manage brands for businesses, especially meeting the criteria system of the Vietnamese national brand; Develop programs, schemes, projects, and plans to build and develop brands from central to local levels, following general world trends to build national and regional brands, Locales.
Economic expert Vu Vinh Phu said that well organizing the registration of trademark protection abroad, research, granting geographical indications and promoting processing, deep processing, creating added value, will contribute step by step 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 playground, many developed markets have paid more attention to promoting trade development associated with green development. , Sustainable Development. To avoid being eliminated from the "game", building a "Green Vietnam National Brand" becomes very important and necessary. If built well, it will be an opportunity for us to effectively take advantage of free trade agreements and meet the requirements of demanding markets such as the US, Japan, Europe... To do this, it requires requires businesses to be very carefully prepared as well as integrate innovative applications, follow new technology directions, green technology, and be environmentally friendly from raw materials to machines. machinery, equipment, products and business processes are environmentally friendly...
