This is a proud result, affirming the effectiveness of the economic development and deep integration policy that our Party and State have steadfastly implemented.

Vinamilk is the enterprise that brings glory to the Vietnamese National Brand in the international arena when it ranks 6th among the most valuable milk brands globally and is the most valuable food brand in ASEAN.

The bright spots

Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade) Hoang Minh Chien said that over the past 20 years, the Vietnam National Brand program has contributed to raising awareness of the meaning, role and necessity of building, developing and protecting national brands at all levels, sectors, localities and the business community.

In 2024, the 9th selection period had 190 enterprises with products achieving the National Brand, an increase of more than 6 times compared to 2008 (the first year of organizing the selection of enterprises with products achieving the Vietnam National Brand).

With the support of the National Brand program, many Vietnamese enterprises have seriously invested in building and developing product brands and corporate brands. Thanks to that, in the Top 50 Most Valuable Brands in Vietnam in 2024, there are 23 product brands achieving the Vietnam National Brand, an increase of 15% compared to 2023. Notably, in the 10 most valuable brands in Vietnam, the number of product brands achieving the Vietnam National Brand accounts for 8 leading positions, with a value of up to 88.8%.

Notably, many Vietnamese product brands have reached world stature. Typically, Viettel is present in the “Top 500 Most Valuable Brands in the World 2024” (Global 500 by Brand Finance) and ranked 241st. Similarly, Vinamilk is an enterprise that contributes to the glory of Vietnam’s National Brand in the international arena when it ranks 6th among the most valuable milk brands globally and is the most valuable food brand in ASEAN.

Sharing the brand development strategy associated with the goals of sustainability, integration and innovation, Mr. Nguyen Quang Tri, Vinamilk's Marketing Executive Director, said that Vinamilk focuses on consumers, improving product quality to meet international standards, developing sustainable raw materials, digital transformation and expanding exports. The company is also committed to green development and community responsibility, affirming the position of Vietnamese brands in the international arena.

Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade) Hoang Minh Chien shared that the value and position of Vietnam's National Brand have increased strongly over the years. According to Brand Finance, Vietnam is considered a bright spot in the picture of building and developing the National Brand and is the National Brand with the fastest growth rate in value in the world in the period 2019-2023, with 102%. By 2024, the value of Vietnam's National Brand will continue to be valued by Brand Finance at 507 billion USD, ranking 32/193 countries, up 1 rank and 2% in value compared to 2023, despite the complicated and unpredictable developments in the world.

“This is the result of the Government’s efforts in reforming the investment and business environment, promoting import and export, and supporting the development of product and business brands. At the same time, it is also an affirmation of the solid leading position of the Vietnamese business community in maintaining a high growth rate, both in terms of profit and revenue, maintaining the domestic market and developing the export market,” Mr. Hoang Minh Chien affirmed.

The business community plays a key role

In fact, in the context of global competition, branding is not only a marketing tool, but has become a strategic factor that determines the position of enterprises and national competitiveness. Accordingly, in recent times, many domestic enterprises have made efforts to maintain and develop their brands strongly.

Commenting on this issue, General Director of MISA Joint Stock Company Le Hong Quang affirmed that the international market is increasingly knowing more about Vietnam, especially through well-organized and in-depth trade promotion activities.

“Vietnam currently possesses a force of creative businesses with the ability to grow on their own, but to develop more strongly, it is necessary to have an innovation ecosystem with a clear focus and priorities. Setting big goals is the first factor to promote innovation, because big aspirations will lead to drastic actions, while low goals can easily cause all efforts to stop at an average level,” said Mr. Le Hong Quang.

Sharing about internal strategy, Mr. Le Hong Quang said that MISA always proactively approaches new technology trends, actively innovates business models and learns from market practices. No longer hesitant as before, businesses today are ready to innovate, experiment and accept new things.

Along with that, the company has built evaluation mechanisms and internal indexes to support technical staff and technology personnel to proactively and effectively manage their own innovation capacity.

Assessing the role of the business community in the process of building and developing the Vietnamese National Brand today, experts believe that the business community plays a key role, not only in improving the quality of products and services, but also in affirming its identity, reputation and competitiveness in the international market.

According to Deputy Director of the Trade Promotion Agency Hoang Minh Chien, innovation and creativity are inevitable trends that help businesses improve their competitiveness, in line with the development of the digital economy and international integration. In the context of the global economy undergoing profound fluctuations, innovation and creativity have become vital factors that help businesses maintain their competitiveness and create different values. Vietnam is no exception to this trend.

Source: https://hanoimoi.vn/doi-moi-va-sang-tao-giup-nang-cao-nang-luc-canh-tranh-700522.html