Making news

Programme to augment value of “Vietnam” brand

The Ministry of Industry and Trade (MoIT) is building a national brand programme to promote the standing of Vietnam-branded products in both domestic and foreign markets.

At a forum in Hanoi on April 17, MoIT Deputy Minister Do Thang Hai, who is also Vice Chairman of the Vietnam National Brand Council, said brand competition is spreading extensively, not only among businesses but also among localities, sectors and countries.

More than 80 countries are implementing national brand programmes to promote their brands to foreign markets. Therefore, building a national brand programme in line with new development trends is critically important, he noted.

The new national brand programme will ensure the cohesion of product brands and investment attraction and culture-tourism promotion activities, turning “Vietnam” into an active and attractive brand in the eyes of tourists, investors, labourers and consumers in both domestic and foreign markets.

The existing Vietnam National Brand Programme (Vietnam Value) was launched in 2003, aiming to promote Vietnam as a country with high-quality goods and services and strengthen Vietnamese businesses’ competitiveness locally and internationally.

This programme has helped improve authorities, sectors and enterprises’ awareness of brand building, development and protection; honoured outstanding products and companies; and supported firms to enhance their capacity and develop brands. It has also helped boost domestic and foreign consumers’ recognition of Vietnam-branded products, services and producers.

The number of businesses with products granted with the national brand has been increasing, from 30 in 2008 to 97 in 2018.

In Brand Finance’s 2018 rankings of the world’s 100 most valuable nation brands, the “Vietnam” brand was valued at 235 billion USD, ranking 43rd and rising two places from the previous year’s list.