Vietnamese businesses need to focus on promoting Vietnamese goods and brands through a network of trade centers owned by overseas Vietnamese to enhance competition in the international market.

Delegates attend the opening ceremony of the Vietnam National Brand Week 2022. Photos: TTXVN

This is the message released by Deputy Minister of Industry and Trade Do Thang Hai at the Vietnam National Brand Forum in 2022 themed “Elevating current position, leveraging the future”. 

He expected Vietnamese enterprises would be more mindful of the value of the national brand in association with product and corporate brands.

Hai said, with the support of the Vietnam National Brand Program, many Vietnamese corporations and businesses have been aware of the important role of brands as the key to increasing the value of products and the enterprise.

With the contribution of the community of overseas Vietnamese, an increasing number of the country’s brands have become known worldwide, reaching out to the international markets and on a growing scale.

At the forum, Deputy Minister of Foreign Affairs Pham Quang Hieu said that his ministry will continue to effectively implement economic diplomacy, and coordinate with the Ministry of Industry and Trade, localities, and domestic agencies to promote exports. "Vietnam's exports are recovering strongly and taking advantage of the growth momentum of the world economy."

As the overseas Vietnamese community has grown, its contributions to trade and product promotion activities have become more significant, Hieu added.

Deputy Minister of Foreign Affairs Pham Quang Hieu speaks at the event.

Among the Top 50 most valuable brands in Vietnam, those having products of the national brand increased from 28% in 2018 to 34% in 2021. In the Top 10, those with products of national brands surged from 20% in 2018 to 60% in 2021.

Lindsey M. Bier Marshall, Professor of Business School, University of Southern California, the US, said that approaching from an international perspective has helped businesses realize the close relationship between national products and corporate brands.

Therefore, if a company has a product with a prestigious brand, its corporate brand will also be enhanced, and if a country has many companies with strong brands, it will be an important basis for leveraging the country's brand.

Sharing about the development of the national brand, Tran Tue Tri, Unilever's Vice President of Global Brands gave some proposals to further enhance the Vietnamese national brand comprehensively, such as improving quality of life - education and healthcare, sustainability, and restoring tourism after Covid-19 and building Vietnamese brands globally.

In the trend of global integration, given many opportunities as well as challenges, brand building is a necessary condition to enhance brand owners' position and bring many practically competitive values.