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| Many prestigious international organizations highly appreciate the results and prospects of Vietnam's economy. (Source: Vietnamnet) |
If in 2019, the value of Vietnam's national brand was only valued by Brand Finance at 274 billion USD, in 2020 it was 319 billion USD, an increase of 29%, in 2021 it was 388 billion USD, an increase of 21%, then in 2022 it was 431 billion USD, an increase of 11%.
The huge increase in Vietnam’s brand value correlates with the country being increasingly perceived as a safe and stable place to invest as many manufacturers look to relocate their Asian operations to Vietnam.
Reporting on the results of the implementation of this year's socio-economic plan and the projected plan for 2024, the Prime Minister informed that the macro-economy is basically stable, inflation is under control, growth is promoted, and major balances are basically guaranteed. Gross domestic product (GDP) growth in the third quarter reached 5.33%, and in the first 9 months it reached 4.24%. The money and foreign exchange markets are basically stable, and interest rates have decreased.
Imports and exports increased gradually over the months, with a trade surplus of nearly 22 billion USD in the first 9 months. Disbursement of public investment capital by the end of September reached 51.38% of the plan, 4.68% higher than the same period last year, about 110,000 billion VND higher in absolute terms; realized FDI capital reached about 16 billion USD, up 2.2%. Newly granted and adjusted overseas investment capital reached 416.8 million USD, up 4.6% over the same period last year.
The Prime Minister emphasized: "In particular, many prestigious international organizations highly appreciate the results and prospects of our country's economy and predict that Vietnam will recover quickly in the coming time; the value of Vietnam's national brand reached 431 billion USD, up one rank to 32nd out of 100 strong national brands in the world."
A report by the world's leading brand valuation consultancy - Brand Finance - also shows that Vietnam's national brand value has increased by 11% in 2022, from 388 billion USD to 431 billion USD.
In terms of national brand value growth rate, Vietnam continues to be considered a bright spot in the picture of building and developing global national brands and is the national brand with the fastest value growth rate in the world at 74% in the period 2019-2022.
Previously, at the ceremony to announce products achieving the Vietnam National Brand in 2022 with the theme "Creating the future", Prime Minister Pham Minh Chinh commented that Vietnam still has a lot of work to do, making more efforts to maintain the brand on the basis of building brand trust through quality, product value, business ethics, standards, humanity, social responsibility...
In the context of many strategic and economic and trade competitions, the increasingly fierce competition for markets, resources, technology, and attracting foreign investment poses many challenges. The Prime Minister affirmed that he will consistently implement the policy of building an independent, self-reliant, and effective economy.
"Therefore, it is necessary to drastically and synchronously implement many solutions to build and enhance the national brand with strategic significance," the Prime Minister stated.
In the coming time, Prime Minister Pham Minh Chinh requested enterprises to focus on better exploiting their potential strengths, strongly exploiting the domestic market and promoting exports, combining the building of product brands, corporate brands and national brands, creating added value. At the same time, he requested enterprises to actively seek to expand international markets, creating higher growth when participating deeply in the global value chain. Continuously consolidate and enhance brand reputation and quality, improve advanced governance, and transparency.
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