Viet Nam's 2019 national brand value reach $247b, in strong brand group
Viet Nam’s national brand value increased US$12 billion to reach $247 billion in 2019, up 5.4 per cent over 2018’s value, according to the Brand Finance’s annual report on the most valuable and strongest national brands 2019.
Viet Nam remains in the top 50 most valuable brands in the world. The country’s ranking has improved over the past three years, currently being placed at 42nd position and in the strong brand group.
The world’s leading independent branded business valuation and strategy consultancy kept Viet Nam’s brand strength index at A+.
Factors taken into account in the report include the value of product brands, brands of large companies, improvement of the government’s business investment environment and Viet Nam’s forecasts of GDP growth and import-export growth.
‘Vietnam Value’, introduced in 2003, is the Vietnamese Government’s unique and long-term trade promotion programme which aims to introduce and promote the prestigious and quality product brands of Viet Nam.
Over the past 15 years, the programme has helped raise awareness of ministries, sectors and businesses about the importance of building, developing and protecting brands. It has also honoured many prestigious products and enterprises, as well as supported local businesses in improving capacity and building their brand.
In the early 2000s, no Vietnamese brands appeared in the international rankings, while by 2019, the total value of the top 50 Vietnamese brands reached more than $9.3 billion, according to Forbes rankings, of which 50 per cent are national brands such as Thaco, Hoa Phat, Vinamilk, Habeco, Vietcombank, Vietnam Airlines, Cadivi, Viglacera and Saigontourist.
For 2020-30, the national brand programme will attach the building and developing Vietnamese brands to positive and outstanding values of the product brands with specific goals. The implementation will match with the country’s import-export strategy, targeting to lift export turnover of national brand products higher than the average export value.
The programme also targets a 10 per cent rise in the number of the most valuable brands listed by the world’s major ratings agencies. All products that obtain national brand recognition will be promoted in the domestic and key export markets.
Viet Nam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade will sign a cooperation agreement with Brand Finance on training, brand communication and promotion campaign on Vietnamese brands and businesses. The two sides will also work out specific plans to support brand development for potential products such as food, textile, footwear and wood furniture.