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| Ceremony to announce products achieving Vietnam National Brand 2022. This is an opportunity to recognize and honor products with top quality, high scientific and technological content, and prestige in the market. (Source: Vietnamplus) |
According to the world's leading independent brand valuation and strategy consulting organization - Brand Finance (headquartered in London, UK), which annually evaluates 70,000 brands worldwide, in 2022, Vietnam's national brand value will reach 431 billion USD. Notably, this country continues to be assessed as the national brand with the fastest growth rate in value in the world, at 74% in the period 2019-2022.
Vietnamese businesses grow rapidly
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.
Specifically, if in 2019, the value of Vietnam's national brand was only valued by Brand Finance at 274 billion USD; then in 2020 it was 319 billion USD, an increase of 29% compared to the previous year; in 2021 it was 388 billion USD, an increase of 21% compared to 2020; in 2022 it reached 431 billion USD, an increase of 11% compared to the previous year.
In terms of rankings, despite the consequences of the Covid-19 pandemic and ongoing geopolitical conflicts and instabilities in the world, many countries have failed to maintain their national brand rankings, but according to Brand Finance , Vietnam has maintained and continued to be upgraded in the Top 100 strongest national brand values in the world.
Specifically, if in 2019, Vietnam was ranked 42nd, then in 2020 it increased 9 places to 33rd; in 2021 it maintained 33rd place and in 2022 it increased 1 place to 32nd place.
Regarding the growth of corporate brand value , Brand Finance assessed that in the Top 100 most valuable corporate brands in Vietnam, the growth in value was also very high at 36%, compared to the growth in Singapore at 22%, in Indonesia at 22%, in India at 16%, in Malaysia at 10%, in China at 6%, in Japan at 5% and in Thailand at 4%.
Among the enterprises with leading brand value, there are many Vietnamese national brand enterprises, such as: Viettel, Vinamilk, MB, Vietcombank, Vietinbank, BIDV, Hoa Phat, Vietnam Airlines...
Commenting on Brand Finance 's assessment in an interview with a reporter from The Gioi & Viet Nam Newspaper , Prof. Dr. Andreas Stoffers, Country Director of the Friedrich Naumann Institute (FNF) in Vietnam, affirmed: "Vietnam has made efforts to register its brand name in the international arena."
According to him, the above results have confirmed the positivity of the relevant components in the development of this brand. Specifically:
Firstly , it is the correct policies and guidelines of the Party and Government of Vietnam in building and developing the Vietnamese national brand.
Second , it is the dynamism and creativity of Vietnamese enterprises, always reaching out to the world in efforts to build and develop product brands and business brands, contributing to increasing the value of Vietnam's national brand in the international arena.
Prof. Dr. Andreas Stoffers found that the number of Vietnamese national brand enterprises is still small but has increased over the years (in 2022 there were 172 enterprises).
In terms of quality, national brand enterprises have affirmed their pioneering role, creating a spillover effect, leading and supporting other enterprises to develop together.
Not only that, Vietnamese products and services are increasingly asserting their solid position in the domestic and global markets through impressive figures in export turnover, market share, rankings in many fields and the respect of international partners.
"This is also a convincing affirmation of the quality of Vietnamese goods and services in the international arena," emphasized the Country Director of the FNF Institute in Vietnam.
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| Two electric SUV models VinFast VF8 and VF9 in Paris, France. (Source: VinFast) |
Looking at the event of the stock code VFS of the Vietnamese car brand - VinFast Auto Ltd. - officially trading on the Nasdaq Global Select Market (USA), Associate Professor, Dr. Bui Quang Tuan, Director of the Vietnam Economic Institute, is proud of the remarkable growth of Vietnamese enterprises.
Associate Professor, Dr. Bui Quang Tuan stated: "Enterprises like VinFast have demonstrated vision, methodical and professional steps, daring to pioneer in reaching out to the global market, daring to compete in the world's most fierce market. This will be a historic breakthrough for Vietnamese enterprises.
Domestic enterprises' access to international capital markets will be an objective trend when Vietnam's economic scale is in the top 5 of ASEAN (2022). According to the International Monetary Fund (IMF), in 2023, Vietnam will rank third in Southeast Asia in terms of economic scale. Thus, the country is mature enough to participate in the world-class game."
To enhance business value
According to Prof. Dr. Andreas Stoffers, Vietnam has built a National Brand Program for nearly two decades, with the goal of building and developing a national brand, through supporting businesses to develop strong brands in the market, contributing to improving national competitiveness, raising brand position, and promoting the image of Vietnam as a country with high-quality goods and services in the domestic and international markets.
Every country or business in that country aims to increase the competitive advantage of their products through brand image, the expert said.
Therefore, in the coming time, to continue to enhance the value of a business, it is necessary to start from the core values of that business itself. That is the value of the product, business culture and ethics, stable financial health of the business, the value created for the community and the contribution to the country's revenue."
Along with that, each business itself must constantly innovate and develop, pioneering the application of new technologies and elements to perfect products and pay attention to user experience.
Currently, environmental protection, climate change adaptation and sustainable development are issues of concern in all aspects of socio-economic life. The green factor must be associated with the growth factor. "This is also a suggestion to enhance the brand through the value created for society: developing businesses towards green and sustainable factors", said the Country Director of FNF Institute in Vietnam.
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