A total of 352 products have been newly recognised as National Brands, marking their contribution to the country's image in the eyes of global partners.

The national brands are a positive reflection of Viet Nam's prestige, as well as its tradition, culture and people, Prime Minister Pham Minh Chinh said at the annual ceremony on National Brands on Wednesday night.

The PM underlined the promotion of national brands as a joint mission of the whole political system and said he was glad to see national brands increase in number year by year.

He was also glad that Vietnamese products had gained ground internationally over recent years, demonstrated by their impressive export revenues, market shares, and rankings, as well as the mounting respect from global partners.

At the ceremony, 172 firms were selected from over 1,000 candidates to be awarded the National Brands title. The PM said he was impressed by the firms' strong performance in 2021.

They made aggregate revenues of VND1.57 quadrillion (US$63.2 billion), contributed VND129 trillion to the State Budget, created nearly 600,000 jobs and did considerably well in terms of social responsibility.

He said the Vietnamese business community, likewise, showed remarkable resilience amid the unfavourable conditions and global uncertainties in the first ten months of the year.

They managed to streamline their production process and improve their competitive positions globally, making a major contribution to the country's economic development.

Remarkably, a Brand Finance report showed that the Vietnam National Brand rose from $388 billion in 2021 to $431 billion in 2022, the fastest-growing country between 2019 and 2022, in this regard.

It is worth noting that Brand Finance's National Brand is not a valuation of aggregated Vietnamese commercial brands, but rather, is a valuation of the brand of the country itself.

Tan A Dai Thanh Group was honoured as a National Brand at the ceremony, marking the fifth consecutive year the group has earned the title. — Photo courtesy of Tan A Dai Thanh Group

The PM urged the national-brand firms and the business community to further leverage their advantages to expand their international presence and improve their positions in global supply chains.

They were also urged to enhance human resources, step up digital transformation, embrace sustainable development and engage in social welfare activities.

The PM stressed that the Government would take the best measures to support firms by improving the business environment and removing obstacles. He hoped that by 2023 the country would have more than 1,000 products recognised as National Brands.

According to Minister of Industry and Trade Nguyen Hong Dien, the National Brands is the sole Government-launched programme aiming to promote the country through the image of its products and services.

For 20 years, the programme has become a launch pad for Vietnamese firms, propelling their products into international stages and improving their competitive positions globally. — VNS