Dec 30, 2020 / 12:06

Vietnam strives towards promoting national brand in global market

Vietnam will do best efforts to take a high position in the international arena.

The building and development of the Vietnamese National Brand will require efforts and determination of the Government, ministries and sectors to support businesses competing with rivals in the global market, Mr. Vu Ba Phu, Head of the Trade Promotion Agency under the Ministry of Industry and Trade, has said.

 An overview of the seminar themed “Positioning and promoting Vietnamese brands in the integration trend” held on December 29. Photo: congthuong.vn

At the seminar themed “Positioning and promoting Vietnamese brands in the integration trend” held in Hanoi on December 29, Mr. Phu said that the participation in free trade agreements is opening up new opportunities for Vietnam, playing an important role in helping the country maintain its economic momentum in the context of the regional and global recession. 

“Vietnam should recognize and overcome the limitations in the development of national brands, corporate brands and product brands in order to make use of these opportunities, thereby building the Vietnam National Brand to be highly recognizable in the international arena,” Mr. Phu said.

From a business point of view, Mr. Nguyen Xuan Phu, the Chairman of Sunhouse Group said: “Normally, the brand development accounts for about 30% of the total value chain of each enterprise. So a prosperous country is the one owning prestigious brands. From there, we need to have a correct understanding of national brand to properly support it and stimulate the growth of the country.”

This further emphasizes the importance of developing and protecting products, businesses, local and national brands, Mr. Phu said.

The seminar attracted the participation of more than 150 representatives from regulatory agencies, experts, organizations and businesses related to brand development, as well as importers and exporters.

At the event, the delegates raised recommendations to the government and related agencies in building the Vietnam National Brand Strategy in line with the integration trend.