Making news

Vietnam climbs three spots in global soft power rankings

 Vietnam has climbed up three spots to rank 47th out of 105 countries in Brand Finance’s Global Soft Power Index Report 2021.

Vietnam was the only country among 10 member states of the Association of Southeast Asian Nations (ASEAN) to see improvement this year.

Its overall score was 33.8 out of 100 points, 2.5 points higher than last year, putting it ahead of the Philippines (53rd), Cambodia (89th) and Myanmar (90th).

Among other ASEAN countries, Singapore was at 20th, Thailand 33rd, Malaysia 39th, and Indonesia 45th.

According Brand Finance, the improvement was largely owing to the fact that Vietnam has objectively managed the COVID-19 pandemic extremely well.

“Vietnam was spared a year of lockdowns and besieged hospitals, and has one of the lowest COVID-19 infection and death rates in the world,” the report said. “Not only is the response to the pandemic impressive – given its shared border with China – but Vietnam also experienced one of the highest economic growth rates globally in 2020 – one of a handful of countries with positive growth in 2020.”

Prime Minister Nguyen Xuan Phuc has approved the Vietnam National Brand Programme from 2020 to 2030, which aims to increase the value and rankings of the nation brand while targeting over 1,000 products to become strong national brands.

The brands from the country are managed through specific efforts and initiatives undertaken by the Ministry of Industry and Trade (MoIT)’s Department of Trade Promotion (Vietrade), under their nation mark programme “Vietnam Value”.

At a national level, Vietnam had established diplomatic relations with 187 out of 193 member states of the United Nations and completed the process of negotiating and signing new-generation Free Trade Agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), making the country an important factor in all regional and intraregional economic links.

At the same time, the Vietrade and the MoIT have actively supported Vietnamese enterprises to improve their capacity through consulting business development, establishing information systems, and updating branding knowledge.

All these initiatives and efforts have helped increase the awareness of the public, international consumers, and customers about the Programme and Vietnam Value products through various domestic and international media channels.

The MoIT also focuses on building and promoting geographical indications and collective marks of Vietnam in foreign markets; supporting to improve the competitiveness of businesses based on quality reputation, environment-friendly production, and professionalism, thereby contributing to consolidate the position of Vietnamese brands in the world market.

The Brand Finance Global Soft Power Index is a comprehensive research study on perceptions of 100 nation brands from around the world. It surveys the general public as well as specialist audiences, with responses gathered from over 75,000 people across more than 100 countries. The countries were graded on awareness and familiarity, influence, global reputation, and performance in key sectors like trade and business, governance, culture and heritage, media and communication, education and science, and people and values./