Vietnamese value brand

VCN - The turnover and export value of Vietnamese enterprises in recent years have reached very remarkable numbers. But what needs to be done to bring Vietnamese brands further and be recognized by the international market is still a story with many concerns...
Giving wings to Vietnamese brands in major markets Giving wings to Vietnamese brands in major markets
Experience in bringing Vietnamese brands to the world Experience in bringing Vietnamese brands to the world
The story of building a Vietnamese brand in the “land of kangaroos The story of building a Vietnamese brand in the “land of kangaroos"”
VinFast was officially listed on the Nasdaq - New York stock exchange (USA).
VinFast was officially listed on the Nasdaq - New York stock exchange (USA).

Increase power from brand value

Talking about some "Made in Vietnam" products that have successfully gone abroad under their own brands, we can mention Trung Nguyen coffee, Vinamilk, "Vietnamese rice", Vietcoco coconut water... along with many other processed food products. In addition, many Vietnamese businesses have promoted the expansion of branches, agents, and even factories abroad with the ambition of becoming global enterprises. This strategy also contributes greatly to the revenue and profits of businesses.

For example, Vinamilk's 9-month 2023 business report recorded the foreign market's contribution of VND 7,218 billion; The product ecosystem is present in nearly 60 countries and territories.

Similarly, Luong Quoi Coconut Processing Co., Ltd. has exported coconut products under the Vietcoco brand to 60 markets and is present in many large supermarket chains around the world. With a diverse portfolio of export products and an open market, Vietcoco's average turnover reaches 20 million USD/year. Luong Quoi Company said that exporting under its own brand will be the main goal of the Company in the period 2025-2030, bringing turnover gradually from 100 million USD to 200 million USD/year.

In particular, 2023 has witnessed a big "wave" from VinFast's stock code officially being listed on the Nasdaq - New York stock exchange (USA), marking VinFast officially becoming a publicly listed company. They have global stature and are the Vietnamese brand with the largest market capitalization listed on the US stock exchange with more than 23 billion USD.

Currently, there are many ways to bring a brand abroad and enhance it, among which, initial public offering (IPO) in major markets is the choice of many large businesses, especially those technology "unicorn" to both increase the strength of brand value and attract investment for business development. Mr. Le Hong Minh, General Director of VNG Joint Stock Company, shared that IPO in the international market also has risks, but if not done, VNG cannot truly develop the company.

In Vietnam, e-commerce platform Tiki also plans to IPO in the US in 2025, but currently Tiki has sold 10% of its shares to Shinhan Financial Group (Korea). International investors are also looking forward to the IPO move of retail platform The CrownX from Masan Group. At the 2023 Annual General Meeting of Shareholders, Mr. Danny Le, General Director of Masan, said that The CrownX's IPO could be launched in 2024 or 2025, when market conditions are more favorable. Currently, Masan has successfully called on many big names in the international financial market to be strategic partners and together realize its ambition to reach out. Similarly, FPT Group Joint Stock Company is also hoping that FPT Software can IPO to become the region's leading chip manufacturer.

It can be seen that, despite many difficulties in the economic context, Vietnamese businesses are still very conscious of building and developing to enhance brand value, thereby greatly contributing to enhancing the value of their businesses. the strength of Vietnam's national brand. Brand Finance - a national brand valuation organization headquartered in the UK - always evaluates Vietnam as a bright spot in the picture of building and developing a global national brand and a national brand with rapid growth. fastest value in the world.

Methodical and wise to position the brand

Thanks to impressive export growth, Vietnam has joined the group of 20 leading trading countries in the world. But the reality is that the successes of bringing brands abroad as mentioned above are still not many, but the majority of our country's product groups are going to the international market with other brands, from other countries.

For example, with rice products, Vietnam holds the leading position in the world in exports, but when exporting to the European market (EU) is often in the form of processing raw materials, importing businesses will pay their packaging and labels on Vietnamese rice products for sale. Or with coffee products, Vietnam also exports with output in the leading group but not only does it not have its own brand, but foreign consumers do not even know that the origin of coffee ingredients is from Vietnam...

According to experts, building brands for Vietnamese businesses when reaching out to the international market is very necessary and urgent, but is also a process that requires sustainable development that businesses must aim for, especially Especially with the opportunities that have been opened up from cooperation and Vietnam's signing of a series of Free Trade Agreements (FTA).

Sharing about the success of the Vinfast brand with the press, Ms. Le Thi Thu Thuy, Chairman of the Board of Directors of VinFast Production and Business Joint Stock Company, said that the 3 key points that companies in Vingroup aim for are products. Excellent, competitive prices and excellent service. Ms. Thuy said that the development in the Vietnamese market is quite good, with customer support, so it is the foundation for Vinfast to go to other markets. With its global development strategy, VinFast chose to start from the US - the most difficult market but also with the most opportunities.

Or with Loc Troi Group Joint Stock Company, the way to build a brand in the EU market is not just to buy and resell but to build a sustainable agricultural value chain in Vietnam. The company has implemented synchronization from planting area planning to cultivation processes and seed selection to ensure high quality, according to international standards.

Therefore, as a general recommendation to the business community, the representative of the Department of Trade Promotion (Ministry of Industry and Trade) said that businesses need to have methodical steps and wise strategies to be able to bring new brands to the market. enterprise's own into the market. For example, to enter the EU market, businesses must understand the culture and business practices of this market to develop suitable products. Products, in addition to being compatible with foreign consumers, also need to have Vietnamese identity to help position the brand and build a better brand.

By Minh Chi/ Huu Tuc

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