Vietnam’s national brand value rising: official

Hoang Minh Chien, deputy head of the MoIT’s Vietnam Trade Promotion Agency, said the Vietnamese brand value is among those with the fastest growth rates in the world in the 2019-2022 period.

He cited a report by Brand Finance - the world's leading brand valuation consulting company – as showing that the value rose from 247 billion USD in 2019 to 388 billion USD in 2021 and 431 billion USD this year.

In rankings, Vietnam jumped from the 42nd position in 2019 to the 33rd in 2021 and the 32nd in 2022.

The brand value of the top 50 local firms also grew 36%, higher than that of Singapore, Indonesia, India, Malaysia, China, Japan and Thailand, according to UK-based Brand Finance.

Chien attributed the results to the sound guidelines and policies by the Party and the State, and the drastic management by the Government in economic, political, diplomatic, cultural and social activities, helping to raise the value and position of the Vietnamese brand in the international arena.

He also highlighted positive effects of the Vietnam National Brand Programme (Vietnam Value), launched in 2003 to promote Vietnam as a country with high-quality goods and services and strengthen Vietnamese businesses’ competitiveness locally and internationally.

Regarding orientations for the programme, he said the MoIT will coordinate with other ministries and agencies to raise public awareness of the significance of brand building and development in production and business, and call for the participation of enterprises in the programme implementation.