Vietnam to raise nation brand value by 20 percent annually

Updated: 15:30, 10/10/2019

Vietnam is aiming to raise its nation brand value by 20 percent annually on average according to the evaluation by the world’s prestigious rating agencies.

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This is one of the targets set in the Vietnam National Brand (Vietnam Value) Programme for 2020 – 2030 recently approved by Prime Minister Nguyen Xuan Phuc.

Under the Vietnam National Brand Programme for 2020 – 2030, the country's nation brand value will be raised by 20 percent annually on average.

The programme aims to build an image of Vietnam as a prestigious country with high-quality goods and services, thus promoting the country’s attractiveness, competitiveness and foreign trade.

Between 2020 and 2030, it looks to have more than 1,000 products recognised as national brands, boost such products’ export growth at a faster pace than the national average, and help increase the value of Vietnam’s nation brand by 20 percent annually on average as assessed by global rating agencies.

The programme also targets a 10-percent rise in the number of businesses entering the list of firms with the most valuable brands by the world’s major rating agencies.

Besides, it plans to step up communications so that 90 percent of the enterprises nationwide will be well aware of brands’ importance to production, business and investment activities. All the products obtaining the national brand recognition are also set to be promoted in the domestic and key export markets.

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

In the London-based Brand Finance’s 2018 report, Vietnam’s nation brand was valued at 235 billion USD, rising 16 percent year on year and ranking 43rd in the world and sixth in Southeast Asia.

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