National Brand: Positioning, adding value in the global economy

Among the top 10 most valuable brands in Vietnam, the percentage of businesses with products that have achieved the Vietnam National Brand has increased sharply from 20% in 2018 to 60% in 2022.

Emphasizing at the Vietnam National Brand Forum with the theme “Positioning the Green Vietnam National Brand,” organized by the Ministry of Industry and Trade on April 20, in Hanoi, Deputy Minister Tran Quoc Khanh said the results The above shows that the leading brands in Vietnam have experienced outstanding growth in both brand value and brand strength index, thereby enhancing their solid position in the rankings.

“This also proves that Vietnam National Brand enterprises have gradually caught up with the global trend of investing in brand value, significantly contributing to increasing the value of Vietnam National Brand, ” Mr. Khanh said.

Rapid growth rate

Vietnam is a country that is highly appreciated for building and developing a National Brand and is National Brand with the fastest growth in value in the world in the period of 2020-2022.

Specifically, according to a report from Brand Finance, the value of Vietnam’s National Brand in 2020 increased by 29.1% compared to 2019, reaching 319 billion USD; in 2021 will increase by 21.6% compared to 2020 (388 billion USD); in 2022, an increase of 11.1% compared to 2021 (431 billion USD).

[Vietnam is a bright spot in terms of global national brands]

Deputy Minister of Industry and Trade Tran Quoc Khanh said that with the support of the National Brand Program, many Vietnamese businesses are aware of the important role of brands, so they have seriously invested in building and developing the brand. product and corporate branding.

If in 2018 there were only 14 Vietnamese national brand enterprises in the top 50, accounting for 28%, then after 5 years (in 2022) this number has increased to 21 enterprises, accounting for 42%.

It can be seen that behind a prestigious national brand are the success stories of corporate brands and product brands in the market.

Mr. Alex Haigh, Managing Director of Brand Finance Asia-Pacific, said that building a compelling story is key to building the Vietnamese brand and national image. Along with that is the promise made to create trust, prestige, and familiarity with the brand.

To do this, it is first necessary to invest in creating an ecosystem in which the business environment is an important issue, including several factors such as diplomacy, the economy, and a favorable business environment. …

Vietnam National Brand Forum 2023. Source: Internet

On the other hand, Vietnam’s strength comes from manufacturing, processing, and manufacturing, so it should be taken as a key factor to build the image and national brand of Vietnam.

“The top 10 strong brands of Vietnam, mostly in the country, need to know how to reach the world and internationalize. To do this, it takes the cooperation of the Government, businesses, people, media, and artists… to talk about Vietnam and promote a beautiful image of Vietnam,” he recommended.

With the same opinion, according to Nancy Elizabeth Snow, Professor Emeritus of California State University (USA), in Vietnam, the number of famous brands is increasing day by day, including both foreign and domestic brands. land.
Moreover, to create the success of brand of Vietnam’s national image is to create a compelling story.

“Vietnam has a unique traditional culture, so it is necessary to spread that story to the world to create an attractive and trustworthy identity, thereby creating a Vietnamese brand image,” said Nancy Elizabeth Snow. emphasize

Green Transformation Orientation

According to experts, green production is a prerequisite when entering markets around the world and participating in agreements such as CPTPP, (EVFTA) … because these trade agreements all have regulations. strict environmental criteria.

Therefore, implementing green production well is also a good opportunity to make effective use of free trade agreements and meet the requirements of fastidious markets such as the US, Japan, and Europe.

The fact shows that green brands have brought many practical benefits both in terms of economy and intangible values, helping enterprises to increase their competitiveness in the market, especially in the context that Vietnam is involved in the process. globalization.

Hoang Minh Chien, Deputy Director of the Trade Promotion Department (Ministry of Industry and Trade), emphasized that to meet the trend of green living and green consumption, businesses need to develop products and services that use economically and effectively. resources, to contribute to the formation of a team of “green” entrepreneurs of the country…

He also recommended the need for close direction from the Government, through the promulgation of appropriate supporting mechanisms and policies, and the coordination of ministries and branches in disseminating policies, and programs and creating legal channels for businesses to promote green corporate brands and green national brands.

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