Enhancing the core values ​​of national brands

A country’s brand is made up of many factors from historical, cultural, economic, political , and social values ​​to the reputation of its products, goods, and services. In particular, each country’s product brand is expressed at three levels: national level, local level, and corporate level.

Fastest growth in value in the world

In recent years, Vietnam has been continuously assessed as a bright spot in building and developing national brands with the fastest growth rate in the world in the period 2019-2023. The national brand value in 2023 reached more than 498 billion USD, ranked 33rd out of 121 countries evaluated by Brand Finance.

Deputy Director of Trade Promotion Department ( Ministry of Industry and Trade ) Hoang Minh Chien said that significant contributions to the increase in the value of Vietnam's national brand are the telecommunications, banking and food and beverage industries. In particular, the telecommunications industry with major brands such as VNPT, Viettel, Mobiphone or Vietnammobile,... contributes up to 31% of the total value of the national brand; banking and food and beverage brands also contribute 30% and 12.7% respectively.

Vietnamese enterprises have made great progress in building and developing brands, thereby enhancing the competitiveness of products, attracting investment and developing foreign trade. However, the Vietnamese economy still faces many problems such as unsustainable export strategies, international trade disputes on brands that are beyond the ability of one enterprise, one industry or even one locality to resolve.

On the other hand, the shift in export structure towards increasing the content of processed industrial products and reducing the proportion of raw materials is still not clear, the added value in products is not high, one of the weak reasons is the brand. Therefore, according to experts, to build and develop a brand more effectively, it is necessary to find core, outstanding values; the brand must be associated with differences.

Booth introducing VNPT digital transformation products at the 8th Congress of Vietnam Farmers' Union.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that enhancing the core values ​​of enterprises is not only promoting economic development but also the process of building corporate culture, building a fair and sustainable society. In an era of rapid change, increasingly fierce competition with the support of technology, core values ​​​​are more important than ever. These are unchangeable principles, the compass and foundation for building and developing the brand of each enterprise, each locality in particular and the country in general.

Dedicate worthy investment resources

"About 10 years ago, when talking about Vietnam Value (Vietnam's national brand), many people were still very unfamiliar. But now, Vietnam Value has made remarkable progress, and Vietnam's core values ​​are increasingly being fundamentally enhanced," Associate Professor, Dr. Nguyen Thuong Lang, senior lecturer at the Institute of International Trade and Economics (National Economics University) assessed.

This value is shaped by many factors, including: Tradition, culture, business capacity or competitive strength and reputation of Vietnamese enterprises. In just 5 years, the Vietnamese national brand has doubled to nearly 500 billion USD, a very spectacular change, showing that Vietnam's core competencies are increasingly recognized by the world. Notably, we are also knowing how to promote those competencies.

According to Associate Professor, Dr. Nguyen Thuong Lang, the issue of brand building needs to be done regularly, meticulously, professionally and systematically. For businesses, to have a strong brand, first of all, they must have products and services that demonstrate prestige and class. In addition, businesses need to focus on building a corporate culture with strong influence, and at the same time need professional branding skills. Finally, we need strong connections, know how to promote and spread brand value in different scopes, different customer groups. This requires a combined strength, a brand ecosystem built on a scientific basis, the general development trend of the domestic and world markets.

In addition to the efforts of the enterprise itself, it is also necessary to have the support of the Government, management agencies, and international organizations in the process of brand development. The State needs to have solutions to support and create conditions in terms of promotion, propaganda, raising awareness, etc. to help enterprises develop their brands well. In addition, brand development lessons of large enterprises and developed countries in the world also need to be carefully studied, in order to summarize good experiences and lessons and apply them creatively in Vietnam.

According to Deputy Director Hoang Minh Chien, based on the potential and strengths of Vietnam's products and services, in order to promote core values ​​and increase the value of brands, ministries, branches and localities need to continue to raise awareness of the meaning, role and necessity of building and developing brands, thereby attracting attention and devoting appropriate investment resources. In addition, units need to step up propaganda and promotion activities for Vietnam's key and potential export products in the international market. For their part, businesses need to promote the creativity of Vietnamese people in designing and developing products suitable to the needs and tastes of the market; invest in technological innovation to ensure the production of quality products, sustainable in the direction of green economy and circular economy.

nhandan.vn

Source: https://baolaocai.vn/nang-tam-gia-tri-cot-loi-cua-thuong-hieu-quoc-gia-post383967.html