More national-branded firms join top 50 Vietnamese brands

The Vietnam National Brand Week and National Branding Forum 2023 opens in Hanoi on April 20 (Photo: VNA)

An increasing number of businesses with products receiving the national brand title entered the top 50 brands with highest value in 2022, Deputy Minister of Industry and Trade Tran Quoc Khanh said at the opening of the Vietnam National Brand Week and the National Branding Forum 2023 in Hanoi on April 20.

The number of businesses owning national branded products in the list increased sharply from 14 companies in 2018 to 21 in 2022, he said, stressing that their percentage in the top 10 most valuable brands of Vietnam also rose to 60% in 2022 from 20% in 2018.

The results showed the firms’ success to catch up with the global trend of investing adequately in branding, contributing to the improvement of the Vietnam National Brand, he held.

Vietnam enjoys the fastest growth in the national brand in the 2020-2022 period, he said, citing a report by Brand Finance showing that the Vietnam National Brand’s value increased 29.1% year on year in 2020 to 319 billion USD, 21.6% in 2021 to 388 billion USD, and 11.1% in 2022 to 431 billion USD.

Participants at the event (Photo: VNA)

Nancy Elizabeth Snow, Honourary Professor from California State University, Fullerton said that Vietnam is home to an increasing number of reputable businesses. She held that a good brand should not only offer good services and products but also give their promise to customers to win their confidence.

Alex Haigh, Managing Director of Brand Finance Asia-Pacific, said that after 15 years of branding research, Brand Finance realizes that making an interesting story is key to build the brand and national image for Vietnam.

Tran Le Hong, Deputy Director of the National Office of Intellectual Property, advised businesses to increase their awareness of the protection of intellectual property during the process of trademark development, while giving a professional approach to intellectual property rights, especially outside the country.

The Vietnam National Brand Week is taking place from April 17-23 within the framework of the Vietnam National Brand Programme 2023, aiming to mark the Vietnam Trademark Day (April 20), increase the recognition of the Vietnam National Brand and promote products that have won the Vietnam Brand title among the domestic and international communities./.

VNA