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Vietnam among fastest growing national brand values globally

Valerie Mai Valerie Mai

mnghonganh@gmail.com

April 20, 2021 | 09:36

The latest report published by Brand Finance indicates that nation is one of the countries which has enjoyed the fastest growth rate in terms of national brand value in the world, representing an annual rise of 29% to US$319 billion in comparison to figures from 2019.

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Vietnam among fastest growing national brand values globally
A booth at the launch of the Vietnam National Brand Week in HCM City on April 19, 2021. (Photo: VNA)

Deputy Minister of Industry and Trade Do Thang Hai, who also serves as the vice-chairman of the Vietnam National Brand Council, outlined these statistics when opening the Vietnam National Brand Week 2021, an event which is scheduled to run from April 19 to April 24. The nation can be considered a bright spot thanks to its remarkable increase in national brand value, coupled with achievements in socio-economic development.

According to Hai, Vietnam posted the fastest-growing national brand in 2020, with value surging 29% to US$319 billion, on the list of the world’s 100 most valuable national brands compiled by the London-based independent brand valuation and strategy consultancy Brand Finance. The country climbed nine places from 42nd last year to 33rd, Nhan Dan cited.

Vietnam among fastest growing national brand values globally
A number of forums and seminars on Viet Nam’s national brands will be held in Ha Noi and HCM City during the event, which runs through April 25. (Photo: VNA)

Furthermore, the nation is also the only country in ASEAN to have been upgraded in the Global Soft Power Index from 50/60 to 47/105 in terms of ranked countries, according to the Global Soft Power Index Report 2021, according to VOV.

The past few years as seen the national reputation increase, largely due to the Government's quick response and sound policies, especially for its support of local businesses as they build and promote brands both at home and abroad.

The Ministry of Industry and Trade launched the Vietnam National Brand Week 2021, an event to strengthen national brand identity and promote products recognized as national brands by the Government domestically and internationally, in Ho Chi Minh City on April 19.

A number of forums and seminars on Vietnam’s national brands will be held in Ha Noi and HCM City during the event, which runs through April 25. The event is expected to help promote Viet Nam as a producer of high-quality goods and services, boost foreign trade, and enhance national competitiveness while calling for concerted efforts from ministries and the business community in developing national brands in Vietnam, TG&VN said.

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Valerie Mai