Vietnam’s brand value rises to US$247 billion, ranking 42nd worldwide
In 2019, the combined value of Vietnam’s top 50 most valuable brands reached over US$9.3 billion, according to Forbes Vietnam’s ranking.
Vietnam’s brand value ranked 42nd among the 100 most valuable nation brands in 2019 at US$247 billion, up 5.4% year-on-year or US$12 billion, according to a report by the Vietnam Trade Promotion Agency (VIETTRADE) under the Ministry of Industry and Trade (MoIT).
Illustrative photo. |
The report also announced priorities for the Vietnam National Brand Program from 2020 to 2030, aiming to promote national brands through the introduction of Vietnamese high quality products.
In 2019, the combined value of Vietnam’s top 50 most valuable brands reached over US$9.3 billion, according to Forbes Vietnam’s ranking, of which 50% have products qualified as national brands such as Thaco, Hoa Phat, Vinamilk, Habeco, Vietcombank, Vietnam Airlines, Cadivi, Viglacera, Saigontourist, among others.
“Over the last three years, the ranking of Vietnam’s national brands has been improving with an increase of eight ranks and the country is named among strong brands, thanks to the government’s efforts to improve the business environments, promote trade and positive economic outlook, as well as the Vietnam National Brand Program,” stated the MoIT.
However, the MoIT acknowledged shortcomings of the program, including the inefficient legal framework and coordination between state agencies at central and provincial levels, not to mention low awareness of branding.
The MoIT stated it aims to support enterprises in creating and promoting brands with an aim to enhance competitiveness, particularly as Vietnam is pushing for greater global economic integration.
Recently, Prime Minister Nguyen Xuan Phuc issued Decision No.30 providing mechanisms for the implementation of the Vietnam National Brand Program, focusing on developing Vietnamese brands on the back of unique value of each product.
The MoIT targets to have 1,000 products qualified as national brands of Vietnam, while the number of Vietnamese enterprises included in list of the world’s most valuable brands would increase by 10% annually.
Additionally, the MoIT expected over 90% of Vietnamese enterprises to be aware of the role of branding in production and investment processes; 100% of products named as national brands of Vietnam to be promoted domestically and in Vietnam’s major export markets.
Other News
- 3,400 taels of gold purchased at the first-in-11-year auction
- HoSE to launch KRX-developed transaction system in early May
- Central bank moves gold auction to tomorrow
- Vietnam’s c.bank sells USD to stabilize exchange rate
- Central bank to auction gold to calm domestic market
- Vietnam's Central Bank ready to steady foreign exchange market
- Finance ministry clears bottlenecks to pave way for stock market upgrade
- Over 60% of Vietnamese use QR codes to pay
- Casinos contribute US$370 million to state budget over 5 years
- Standard Chartered and IATA partner to launch IATA Pay in Vietnam
Trending
-
Hanoi, UNESCO pledge further cooperation
-
Vietnam news in brief - April 25
-
Vietnamese contemporary ballet celebrates Europe Day
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
IT training urged to focus on semiconductors
-
Voluntary social security should cover larger part of informal sector: Experts
-
ASEAN Future Forum 2024: Promoting regional centrality
-
Central bank moves gold auction to tomorrow
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video