Building and enhancing Vietnam’s national brand value

According to Brand Finance, Vietnam’s national brand value rose 11% from 388 billion USD in 2021 to 431 billion USD in 2022.

Along with the growth of the Vietnamese national brand, the brand value of Vietnamese enterprises has also increased sharply. The total value of Vietnam’s top 50 brands grew by 36%.

This is the result of tireless efforts of the business community and entrepreneurs as well as the implementation of the National Brand Programme and the positive impacts of the Party and State’s favourable mechanisms and policies.

The leaders of the Party and the State of Vietnam have repeatedly sent messages affirming that building a national brand is a task of special importance, both urgent and strategic, with a wide scope, requiring drastic action, ceaseless innovation, the participation and efforts of the entire political system, at all levels, sectors, localities and people, especially the business community and entrepreneurs.

The national brand can be considered a resource for each business, in addition to the country. Building and preserving a national brand is of strategic importance to businesses as well as the entire country.

After more than 20 years of implementing the National Brand Programme to build Vietnam's image as a country with attractive, prestigious and high-quality products and services, the number of businesses with products achieving National Brand has continuously increased over the years, from 30 enterprises in 2008 to 172 enterprises in 2022.

Vietnamese goods and services increasingly assert a solid position in the domestic and world markets through impressive figures in export turnover, market share, rankings in many fields and respect from international partners. This is also a convincing affirmation of the quality of Vietnamese goods and services.

It is difficult to build a brand, and maintaining the brand is even more difficult. The "heart" of the brand is the trust that society, people, and the international community place in Vietnamese businesses and entrepreneurs. Therefore, the business and entrepreneur community is shouldering a heavy but glorious mission while making an important contribution to enhancing Vietnam's position in the international arena.

In April 2023, the Government issued the Resolution No. 58/NQ-CP regulating several key policies and solutions to support businesses’ proactive adaptation, rapid recovery, and sustainable development by 2025, and then the Resolution No. 45/NQ-CP on Action Programme to continue implementing the Resolution No. 10-NQ/TW on private economic development. Following the resolutions, many businessmen and economic experts have been looking forward to allopathic therapy for business hibernation.

It was the state when many businesses clustered in production and were afraid of competition, in the context that the market and business situation had become difficult and complicated both domestically and internationally. To boost the recovery and development of the economy, businesses, especially private ones, must be awakened and encouraged to dare to think, dare to do, and dare to aspire even bigger.

The Vietnamese economy urgently needs energy and creativity from the business community to realise the goal of having 1.5 million businesses by 2023 and 2 million businesses by 2030. The success and development of communities, businesses, brands, and the reputation of products and services are also a measure of the success of the State management.

We have partly affirmed the success of the national brand associated with high-quality “make in Vietnam” and “made by Vietnam” products.

Amid a strongly divided and polarised world due to fierce geo-political and geo-economic competition, Vietnam’s national brand will become more valuable with the choice of green and clean development as Vietnam’s voice and role in the international arena have become more prestigious and persuasive.

The transition to a green economy will promote the competitiveness of Vietnamese products and services in international markets. Moreover, Vietnam will become a reliable address for high-tech investment capital and environmentally friendly production.

Promoting the tradition of solidarity and attachment for the benefit of businesses associated with the interests of the nation and people of Vietnam, efforts to overcome difficulties, innovate and continuously improve production and business efficiency, and gradually and steadily improving competitiveness in the regional and global markets, contributing to the country's rapid and sustainable development, is the core value that the Vietnamese business community always remembers.

On the occasion of Vietnamese Entrepreneurs' Day (October 13, 2023), we once again have the opportunity to look at the goal towards 2030, when Vietnam will have more than 1,000 products, achieving Vietnam’s National Brand, thereby affirming Vietnam as a country with high-quality goods and services, as well as high competitiveness in the international market, to have more motivation and determination to act.

The efforts of each enterprise to achieve the National Brand will contribute to building a strong and prosperous Vietnam. We believe the word "Vietnam", associated with the image of prestigious and high-quality products and services, will increasingly develop and firmly consolidate the national position and worldwide reputation.