Viet Nam pushes up national brands

Friday, Oct 11, 2019 11:00

Telecom giant Viettel is one of the most prestigious brands in Viet Nam. The country aims to reach more than 1,000 products recognised as national brands between 2020 and 2030. — Photo ictnews

Viet Nam has set a target of having more than 1,000 products recognised as national brands between 2020 and 2030, marking an increase of 20 per cent.

This is a key part of the Vietnam National Brand (Vietnam Value) Programme recently approved by Prime Minister Nguyen Xuan Phuc.

It’s expected to build Viet Nam's reputation with high-quality goods and services, thus promoting the country’s attractiveness, competitiveness and foreign trade.

From 2020-30, the programme will focus on developing national brands that match the country’s import, export and services strategy.

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.

It will also aim to share the importance of brand recognition with 90 per cent of enterprises nationwide for production, business and investment activities. All products that obtain national brand recognition will be promoted in the domestic and key export markets.

The Ministry of Industry and Trade has been assigned to manage this programme.

In the London-based Brand Finance’s 2018 report, Viet Nam’s national brand was valued at US$235 billion, rising 16 per cent year-on-year and ranking 43rd in the world and sixth in Southeast Asia. — VNS

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