Exporting goods has not only achieved positive results but also sparkled with joy when many Vietnamese brands have become known and loved by the market.
Many successful brands abroad
According to the third quarter financial report recently released by Vietnam Dairy Products Joint Stock Company (Vinamilk), revenue from the export market has grown positively for the fifth consecutive quarter, continuing to be the growth driver of Vinamilk. Specifically, revenue from the export segment increased by 10.3% and foreign branches increased by 8.5%. In the first 9 months, Vinamilk's net revenue from the foreign market brought in VND8,350 billion, an impressive increase of 15.7% over the same period.
Vinamilk's export activities have recorded positive signals from high-end markets, where there is a large Vietnamese community, so there is a high demand for Vinamilk products such as sweetened condensed milk and yogurt. The company has also diversified its approach and market exploitation by participating more deeply in international retail, distribution and supply chains.
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| Vinamilk products are popular with domestic and foreign consumers (Photo: Vinamilk) |
Vinamilk is also developing non-dairy products for export such as coconut water, which is currently exported to the US, Canada, Japan, and Taiwan (China). Although it has not contributed much to the revenue, this is a way to expand the market, affirm production capacity, and demonstrate product quality.
Also a major Vietnamese brand participating in exporting and building its brand in the market, 10 new Trung Nguyen Legend stores were consecutively opened in the US and China in July.
Accordingly, nearly a year after the first Trung Nguyen Legend franchise coffee shop opened in the US, Vietnam's leading coffee group continued to open two Trung Nguyen Legend Coffee World spaces in San Jose, California on July 18 and 25. These are the first two spaces of the Trung Nguyen Legend Coffee World model and the fourth Trung Nguyen Legend store in the US.
Located at 909 Story Road, Unit 100, San Jose and 1631 East Capitol Expressway, Unit 107, San Jose, both Trung Nguyen Legend Coffee World spaces are located on a vibrant route with many cultural, commercial and trading activities. These are locations that easily attract American customers and international tourists to experience and explore.
Trung Nguyen Group is aiming to develop nearly 130 stores in China in 2024, opening a long-term plan of 1,000 stores in this market. At the same time, in September, Trung Nguyen Legend will replicate the store space model in Australia, Canada, and continue to promote the plan to expand 100 spaces in the US, along with countries in Southeast Asia, Asia, Europe...
Or, on July 28, 2023, VinFast started construction of an electric car factory in the US, then listed on the US stock exchange as a publicly listed company with global stature, the Vietnamese brand with the largest capitalization value of more than 23 billion USD. This not only brings VinFast's brand to the world, but also brings the name of Vietnamese enterprises to friends around the world.
Being famous in the world market not only by impressive turnover but also by its own brand, we cannot fail to mention the story of rice grains. In particular, Loc Troi's Com Vietnam Rice has been sold in French supermarket chains at the highest price in the world. Or Tan Long's Japonica rice continued to successfully "enter the market" in Japan last October, after 2 years of A An rice being exported to the land of the rising sun. This is the most demanding market in the world and successful export to the market is a great effort of the enterprise in the journey to establish itself in the foreign market.
Experts say that in recent years, Vietnamese enterprises have made great progress in building and developing brands, thereby improving product competitiveness, attracting investment and developing foreign trade. The efforts of enterprises have been and are actively contributing to Vietnam's foreign trade achievements. Currently, Vietnam has risen to the position of one of the top 20 countries in the world in terms of international trade scale. The import and export turnover of goods up to the first half of November 2024 reached 681 billion USD and may continue to reach a record number this year.
In addition, in 2024, the national brand value will reach 507 billion USD, ranking 32/193 countries, up 2% in value and 1 rank compared to 2023. These successes of Vietnam have important contributions from large-scale enterprises and economic groups, playing a core role, pioneering in leading the development of industries, fields and economies such as Viettel, PVN, Vingroup, FPT, TH, Vinamilk...
Ministry of Industry and Trade supports businesses in building brands
Dr. Vo Tri Thanh, Director of the Institute for Brand Strategy and Competition Research, said that a brand is the “price” that partners, customers, and consumers are willing to pay more for a product. Many Vietnamese businesses today have such valuable brands. At the same time, they bring such valuable brands to foreign markets.
In general, Vietnam has great potential in building and developing brands in both domestic and foreign markets due to its wide range of products, unique and high quality products. In particular, many products also have regional characteristics, such as OCOP products.
However, looking at big brands like Vinamilk or Trung Nguyen, it can be seen that these are large enterprises with large resources. Meanwhile, for most enterprises, the difficulty in building a brand is that Vietnamese enterprises are currently mainly small and medium enterprises, with limited capacity, and investing resources in brand building activities still faces many difficulties. Therefore, support from state management agencies is needed in building and developing brands.
According to expert Vu Vinh Phu, building a national brand for Vietnamese products, especially Vietnamese agricultural products - the country's main export item, is becoming more urgent than ever. First of all, each type of product needs to build a stable, transparent, and monitored raw material area, not only through land accumulation but also through linking farmers. Closely linking growing areas with enterprises is an important basis to ensure output, quality, and brand building. At the same time, it is necessary to organize well the registration of trademark protection abroad, research on varieties, grant geographical indications, and promote processing and deep processing to create added value, contributing to gradually building a brand for Vietnamese agricultural products.
On the side of the authorities, Mr. Hoang Minh Chien - Deputy Director of the Department of Trade Promotion - Ministry of Industry and Trade said that implementing the National Brand program, the Ministry of Industry and Trade has recently deployed many solutions to support businesses in the process of building brands. Including raising awareness of the business community and society about the role of brands.
In addition, capacity building is needed to support Vietnamese enterprises to build, manage and develop product brands to meet the criteria of the National Brand Program, thereby forming strong brands, thereby exporting to the world to bring greater added value.
“We all know that the current export value of domestic enterprises only contributes about 27% of Vietnam's total export turnover in 2023 and the group of foreign-invested enterprises (FDI) is the main contributor to the export proportion. With the development and construction of such strong brands and with the increased value of products, we expect to contribute to some extent to increasing the proportion of domestic enterprises' export turnover in the total export turnover,” Mr. Hoang Minh Chien shared.
Source: https://congthuong.vn/ket-tinh-gia-tri-xuat-khau-tu-nhung-thuong-hieu-lon-361229.html
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