Vietnam National Brand ranked 32nd in the world

According to Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, a national brand is an intangible asset with strategic value, reflecting the overall competitiveness and position of a country in the integration process.

Delegates perform the launching ceremony of Vietnam National Brand Week 2025

In recent years, with the leadership of the Party, the management of the Government and the support of enterprises, the Vietnam National Brand has made impressive progress.

According to Brand Finance, in 2024, the value of Vietnam's National Brand will be valued at 507 billion USD, ranked 32nd in the world - up 1 place compared to 2023.

The Deputy Minister of Industry and Trade said this is a proud result, affirming the effectiveness of the economic development and deep integration policy that we have steadfastly pursued.

Especially, in the context of transforming the growth model based on science - technology and innovation, the role of national brands becomes even more urgent.

"This year's forum with the theme "Vietnam's National Brand - Breakthrough from innovation and creativity" continues to affirm strategic thinking and long-term vision in building a national brand in the new era" - Deputy Minister Nguyen Sinh Nhat Tan assessed.

Innovation is the key to improving productivity, quality and creating sustainable differentiation in a highly competitive global environment.

In the context of strong technology development, widespread digital economy, and the trend of green - clean - smart consumption, Vietnamese enterprises need to proactively adapt and pioneer innovation.

Mr. Hoang Minh Chien, Deputy Director of the Trade Promotion Agency, Deputy Head of the Secretariat of the Vietnam National Brand Program, emphasized that innovation and creativity are key factors in building strong and distinct brands in the global market.

Mr. Hoang Minh Chien cited the Vietnam Open Innovation Ecosystem 2023 report showing that 0.4% of GDP is the level of investment in research and development (R&D) of Vietnam, while countries like Thailand is 1.3%, Singapore is 2.2%, Malaysia is 1%, China is 2.64%, Japan is 3.7%.

According to the Deputy Director of the Trade Promotion Agency, each country has a different approach to building and developing national brands.

Over time, the approach to building and developing a national brand may change, but science, technology and innovation are the driving forces for growth and are effective positive factors in creating a national brand.

"Innovation is both a challenge and an opportunity that determines the prosperity of businesses and the nation," said Mr. Hoang Minh Chien.

Source: Lao Dong Newspaper

Source: https://baosoctrang.org.vn/kinh-te/202504/thuong-hieu-quoc-gia-viet-nam-xep-hang-32-the-gioi-14e2d5e/