The Ministry of Industry and Trade (MoIT) plans to announce the 2018 national brands in December.

The programme aims to improve local businesses’ awareness and ability in building, developing and protecting brands to help them have strong trademarks. This will contribute to improving Vietnamese products’ reputations.

“The selection of enterprises achieving the national brand is conducted every two years in order to encourage them to continue to share and pursue the values of the Viet Nam National Brand Programme including quality, innovation, creativity and pioneering capacity,” according to a representative from the Trade Promotion Department under the ministry.

On the basis of promoting these values, firms compete in their industries and fields of production and business based on constant innovation and improved product quality.

According to the department, the selection of the national brand names was just the beginning for businesses to become part of the programme.

The Government would develop programmes to support businesses to build capacity, develop and manage their brand to enhance competitiveness in the market.

Last week, Brand Finance, the world’s leading independent branded business valuation and strategy consultancy, valued Viet Nam’s national brand at US$235 billion, a year-on-year increase of 16 per cent.

The Viet Nam’s national brand value has moved up two places from the 2017 ranking, to rank 43rd this year thank to implementation of its national programme “Viet Nam Value” .

This makes the country among the top 50 most valuable national brands in the world.

The National Branding Programme, approved in 2003, has been the only programme of the Vietnamese Government to advertise the country’s image and trademark through products and services.

The Prime Minister also assigned the MoIT to co-operate with relevant ministries and agencies to implement the programme. — VNS