The workshop “Innovation to thrive in the new era” attracted more than 200 businesses and experts in Ho Chi Minh City, marking 5 years of the Golden Brand. The event inspired innovation, opening up opportunities to elevate Vietnamese brands in the international arena.
The workshop "Innovation to thrive in the new era" jointly organized by the Department of Industry and Trade of Ho Chi Minh City, Tuoi Tre Newspaper, and CSMO Vietnam attracted more than 200 businesses and economic experts... - Photo: QUANG DINH
On January 3 in Ho Chi Minh City, the workshop “Innovation to thrive in the new era” co-organized by the Ho Chi Minh City Department of Industry and Trade, Tuoi Tre Newspaper, and CSMO Vietnam attracted more than 200 businesses, economic experts, brand leaders, startups, and young people interested in innovation and brand development.
Ho Chi Minh City and the 5-year journey to elevate the Golden Brand
In her opening speech, Ms. Nguyen Thi Kim Ngoc, Deputy Director of the Department of Industry and Trade of Ho Chi Minh City, said that this year's Ho Chi Minh City Golden Brand Festival marks a 5-year journey with many meaningful values for the business community.
Ms. Nguyen Thi Kim Ngoc, Deputy Director of Ho Chi Minh City Department of Industry and Trade - Photo: QUANG DINH
The award has contributed to honoring typical brands, affirming the position of Ho Chi Minh City enterprises in the context of integration. Thereby, enterprises not only enhance brand value but also promote innovation and sustainable development.
This year’s theme “Innovation and Sustainability” represents the desire to innovate the award organization process, ensuring objectivity, professionalism, and strongly spreading the value of the award. The Organizing Committee hopes to build the award into a prestigious symbol, contributing to the brand development strategy of Ho Chi Minh City and the country, reaching out to the region and the world.
The workshop is part of the 5th "Ho Chi Minh City Golden Brand" Award and opens the "Walk with the brand: Walk & Talk" series season 3 in 2025. Here, experts and businesses shared breakthrough business strategies and success stories, thereby suggesting new directions for the business community.
Building a strong brand is the key to sustainable competition
Journalist Le The Chu, editor-in-chief of Tuoi Tre newspaper, commented that Ho Chi Minh City is changing strongly, moving towards sustainable development and deep integration into the regional and world economy. In that context, innovation and creativity are not only vital factors for each enterprise but also a driving force for the general economy.
Journalist Le The Chu, editor-in-chief of Tuoi Tre newspaper - Photo: QUANG DINH
According to him, innovation does not stop at applying new technology but needs to start with changing mindsets and business models, being willing to give up old mindsets to experiment with new ideas.
Citing examples from businesses at the workshop, Mr. Chu highly appreciated the transformation from traditional to multi-channel business models, combining physical stores with online sales, bringing a convenient experience to customers. Many businesses also apply advanced technology, automate production, optimize processes and use environmentally friendly materials.
Mr. Chu emphasized that taking advantage of 4.0 technology such as IoT, AI and Big Data is opening up great opportunities in optimizing production, predicting market demand, personalizing products, and building strong brands to create sustainable competitive advantages.
Guests visit booths outside the conference - Photo: QUANG DINH
He also affirmed the role of Tuoi Tre in spreading the spirit of innovation and creativity. The newspaper has continuously introduced successful examples, shared experiences, and reflected on the difficulties and challenges that businesses face in their innovation journey. In addition, Tuoi Tre has organized many communication activities such as the Walk&Talk Talkshow, the My Beloved Brand contest, and the brand discovery program to contribute to raising public awareness of innovation.
Looking to 2025 and the following years, Tuoi Tre plans to organize a series of events such as seminars, talks, competitions and voting for favorite golden brands. “We hope that with these efforts, the spirit of innovation will spread more strongly, contributing to promoting economic and social development,” Mr. Chu shared.
Will Vietnam be Asia's next "Economic Tiger"?
Over the past 25 years, Vietnam has achieved impressive economic results with high GDP growth and a significant reduction in poverty. The question is, what is driving this growth, and can Vietnam continue to maintain this growth momentum over the next 25 years?
Sam Korsmoe, author of Vietnam, Rising Star, said he and his team undertook a project to understand the factors driving Vietnam’s development and predict its future potential. According to him, many people, including Vietnamese people, do not really understand these dynamics. “We approached the project like scientists, making hypotheses and testing them,” he said.
Mr. Sam Korsmoe - consultant and economic expert on Vietnam shares a unique perspective on the strong rise of Vietnam in the international arena, especially the pioneering role of Ho Chi Minh City - Photo: QUANG DINH
The study focuses on the hypothesis that Vietnam can develop in the direction that Taiwan and South Korea have successfully done in the past, becoming the "next Asian tiger economy". To clarify the concept of "tiger economy", the research team built six evaluation criteria: export, industrialization, specialization, market, leadership orientation, and leadership innovation.
According to the study, Vietnam currently meets most of the criteria quite well, although industrialization still has room for improvement. Mr. Korsmoe noted that infrastructure development and policies to promote industry are important factors in increasing the level of industrialization. Innovation, the ability to apply technology and digital in economic sectors, is also a decisive factor.
He pointed out eight main drivers that give Vietnam great potential, notably the "China +1" strategy, when manufacturers move out of China to take advantage of Vietnam. He also appreciated the advantage of a young population, with more than 100 million people, especially the young workforce and the prominent role of women in the economy. In addition, the strong development of the internet, abundant natural resources, and the impact of the Sino-US trade war also bring many opportunities.
He also emphasized the role of major cities such as Ho Chi Minh City, Hanoi, and Can Tho in leading the development. These localities need to continue to innovate and improve areas such as events, cuisine, and cinema, to become international destinations.
“We need to Think Big – think big, dream big and execute on them consistently,” Korsmoe stressed. He suggested that Ho Chi Minh City should become a venue for global events such as major shows. “Thinking big also means investing in future human resources, building global brands, and promoting Vietnamese culture on the world stage. However, we need to identify risks in parallel for sustainable development.”
However, Mr. Korsmoe also warned that Vietnam faces a major challenge in avoiding the “middle-income trap.” To maintain sustainable growth, it needs to invest in education, improve infrastructure, and implement policy reforms. “Vietnam is at a critical juncture. If it seizes the opportunity, it can become not only a rising star but also a leading star in Asia,” he affirmed.
Ho Chi Minh City Golden Brand: The driving force to enhance brand reputationSource: https://tuoitre.vn/doi-moi-de-dua-viet-nam-thanh-con-ho-kinh-te-moi-cua-chau-a-20250103111546101.htm
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