How is the Ministry of Industry and Trade developing a national brand?

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Illustrated photo. Source: Internet

Speaking at the Vietnam Brand Forum 2019,which took place on the morning of April 17, 2019 in Hanoi, Director of Trade Promotion Department (Ministry of Industry and Trade) Mr. Vu Ba Phusaid: In 2018, the Department coordinated with brand experts to conduct surveys and research on the awareness of organizations, individuals and enterprises on the National Brand Program and analyse experience of some countries in building and developing their national brands.

Thereby, the Department used the research results to synthesize and draft the Vietnam National Brand Program Scheme by 2030 with a vision to 2045 and the Prime Minister's Decision promulgating the Regulation on building, managing and implementing the National Brand Program.

Accordingly, the content of the Vietnam National Brand Program in the new period will have the linkage of product brands of enterprises with activities to attract investment, promote culture and tourism. Thereby, building Vietnam’s national brand to become a positive and attractive image for importers, tourists, investors, employees and consumers in the domestic and international market.

The scheme also raises the coordination mechanism among ministries, sectors, localities, socio-political organizations, businesses and individuals involved in organizing the implementation of the Vietnam National Brand Program.

"In addition, we are also considering that in addition to accrediting enterprises with products achieving National Brand, in the new phase, the Program will implement the accreditation of collective trademarks and geographical indications and promote advertisement and communication for these brands,"said Phu.

Regarding national brand building, Deputy Head of the Central Economic Committee Nguyen Huu Nghia said, for many countries in the world, national brands have brought many intangible values and is being further developed to compete in the context of globalization and deep economic integration.

Many enterprises introduce products and brands of enterprises on the sidelines of Vietnam Brand Forum 2019. Photo: Nguyen Thanh

Not beyond the trend, national brand is indispensable in efforts to improve the efficiency of Vietnam’s international economic integration. At present, in order for effective competition in the domestic market as well as the foreign market. The enhancement of the development of national brand is a significant support method.

“The development of a business brand requires the efforts of a collective of employees, then the development of a national brand requires long-term and persistent efforts of a whole country," Nghia said.

Nghia added that the Central Economic Committee will continue to coordinate with the Ministry of Industry and Trade to implement activities to enhance awareness of Vietnamese-branded products and strengthen coordination with relevant agencies and to carry out the Program, aiming at the image of a country associated with international brands, which is the pride of the Vietnamese.

Previously, the Vietnam National Brand Program (Vietnam Value) was approved by the Prime Minister and assigned to the Ministry of Industry and Trade to preside over and coordinate with ministries and sectors in the implementation from 2003.

The number of enterprises accredited with products achieving the National Brand has increased steadily over time. Specifically, it was 30 enterprises in 2008; 43 enterprises in 2010; 54 enterprises in 2012; 63 enterprises; in 2014; 88 enterprises in 2016 and 97 enterprises in 2018.

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According to the Ranking of the world’s top 100 most valuable national brands in 2018, announced by Brand Finance, "Vietnam" was valued at US$235 billion and was inthe strong brand group. The brand position moved up two places on the rankings, ranked at 43rd thanks to contribution by Vietnam Value and the Government's efforts to boost economic growth.