In recent years, the annual growth rate of Vietnamese brands has shown signs of slowing down. (Source: Bloomberg)

The CEO of Brand Finance Asia-Pacific said that the brand value of Vietnamese brands has always grown at a compound rate over the past 10 years at an average rate of 26%, much higher than Indonesia (8%), Singapore (7%) and Malaysia (3%).

"This is a fantastic and proud growth trajectory," said Alex Haigh.

However, in recent years, the annual growth rate of Vietnamese brands has shown signs of slowing down, from 39% growth in 2019 to 14% this year.

To continue to grow this number, Mr. Alex believes that Vietnamese businesses need to focus on building brand value and expanding to international markets. At the same time, promote sustainability in all areas to build the company's reputation.

“The topic of sustainability is increasingly important to customers, especially younger consumers,” he said.

Also at the Sustainable Development, Conquering the World forum, Ms. Tran Tue Tri, co-founder and Senior Advisor of Vietnam Brand Purpose, acknowledged that Vietnam is a country with an open economy, subject to many impacts from risks and fluctuations in the world in terms of economic, political, social, natural disasters and epidemics, and will face fierce competition from international brands and impacts from climate change.

Therefore, Vietnamese enterprises need to be persistent, flexible, and innovative to develop strongly and sustainably.