National brand help promote Vietnam’s global image: Prime Minister Pham Minh Chinh addresses the ceremony. (Photo: VNA)

This year, 172 businesses with 352 products, selected from more than 1,000 nominated enterprises, have been recognised as National Brand in 2022.

Underlining the significance of building the national brands, the Prime Minister stressed that this is the common task of the entire political system, sectors, localities, the society and especially the business community.

He expressed delight at the growing number of businesses whose products recognised as the National Brand through years, and Vietnamese products and services have clinched firm positions in both domestic and global markets, shown by impressive figures in export revenue, market shares and rankings in many areas as well as the respect of international partners.

The Prime Minister noted that the 172 honoured firms have shown strong business performance in 2021 with combined revenue of about 1.57 quadrillion VND (63.19 billion USD), paying nearly 129 trillion VND to the State budget, creating jobs for nearly 600,000 labourers and effectively implementing social welfare policies and corporate social responsibility.

The Government leader said that despite difficulties and challenges in the first 10 months of this year, the Vietnamese business community showed strong solidarity and steadiness, overcome difficulties to promote production and maintain the domestic market and exports, and make important contributions to the country’s overall performance.

He cited statistics from Brand Finance as showing that the Vietnam National Brand’s value rose 11% to 431 billion USD in 2022 from 388 billion USD in 2021, becoming the brand with fastest growth in value in the 2019-2022 period, at 74%. Besides, the value of Vietnamese businesses’ brands has also increased strongly, with total value of 50 leading brands rising 36%.

National brand help promote Vietnam’s global image: 172 businesses with 352 products have been recognised as the National Brand in 2022. (Photo: VNA)

He underscored that the Party and State have laid trust and expectations on the mettle, capacity, solidarity, efforts, creativity and dynamism of the business and entrepreneur community of Vietnam during the cause of national construction, development and integration.

The Prime Minister asked the companies recognised as the National Brand and the whole business community to further optimise their strengths and advantages to rise stronger in both domestic and world markets, expanding international markets and engaging more deeply in global supply chains.

Along with enhancing the reputation, quality and competitiveness of Vietnamese products, they should focus on improving their technologies and capacity of labourers, speeding up digital transformation, protecting the environment, and engaging in social welfare activities.

The Prime Minister pledged that the Government will continue to seek measures to provide the best support to businesses, improve the business environment and remove difficulties facing them.

The government leader expressed his hope that by 2030, Vietnam will have more than 1,000 products recognised as the National Brands.

According to Minister of Industry and Trade Nguyen Hong Dien, the National Brand Programme is the only carried out by the Government to promote the national images and brand sthrough the brands of products and services.

After 20 years of development, the programme has become a strong launching pad for businesses to reach out to the world, enhancing their competitiveness in the world market.