Vietnamese brands on global stage

On the evening of August 15, 2023, after the launch bell rang on the Nasdaq Global Select Market, VinFast — a Vietnamese brand — officially became a globally listed public company. At the end of 2023, another milestone was achieved when FPT announced 1 billion USD in revenue from IT services in foreign markets, making it the first Vietnamese tech company to achieve “billion-dollar” revenue through software exports.

On a broader scale, Viettel is the only Vietnamese enterprise in the “Global 500” ranking of the world’s most valuable brands in 2024 as listed by Brand Finance. Meanwhile, Vinamilk surpassed many major names to become the sole Southeast Asian representative in the Top 5 most sustainable global dairy brands. Vinamilk also maintained its 6th rank in the Top 10 most valuable global dairy brands and 2nd in global dairy brand strength. Other Vietnamese brands that have left a mark internationally include Trung Nguyen coffee, ST25 rice, and Loc Troi Group.

According to Brand Finance, Vietnam was recognised as a bright spot in building and developing its national brand. From 2019 to 2023, Vietnam’s national brand value saw a growth rate of 102% — the fastest globally.

Viettel is the only Vietnamese enterprise to be listed in the “2024 Global 500 Most Valuable Brands” ranking. (Photo: Mai Ngoc)

Adapting to the green era

Experts emphasise that building a national brand is more urgent than ever as many global markets open through free trade agreements (FTAs). As developed markets increasingly focus on green, sustainable trade development through incentives and business support policies, Vietnam must adopt a strategic approach.

According to Vu Ba Phu, Director of the Trade Promotion Agency under the Ministry of Industry and Trade, businesses must first actively pursue green and sustainable development to enhance competitiveness, expand export markets, and meet strict environmental standards, especially under new-generation FTAs.

In reality, many Vietnamese enterprises with products recognised as national brands have been pioneers in the green era. For example, VinFast is taking the lead in reducing carbon emissions and pollution from transportation through its electric vehicles. VinFast not only meets the demand for sustainable transportation but also provides Vietnamese consumers with access to green mobility solutions that meet international standards.

In agriculture, TH True Milk has for years built organic-standard farms using antibiotic- and hormone-free dairy farming practices. It applies waste treatment technology to produce organic fertiliser, protects the environment, reduces pollution, and uses renewable energy from solar power systems to lower conventional energy consumption.

Policy and media as driving forces

A positive signal for Vietnamese brands is the strong support from the government, Ministry of Industry and Trade, and other agencies to promote enterprises toward the green era. Support programmes align with Vietnam’s goal of becoming a high-income developed country by 2045 and achieving net-zero emissions by 2050. Green production is a prerequisite for participating in new-generation FTAs.

Minister of Industry and Trade Nguyen Hong Dien emphasised three key solutions for developing Vietnam’s National Brand by 2030. First, he highlighted the importance of collaborating with ministries, sectors, and local authorities to enhance support for the business community in designing, developing products, innovating technology, and improving quality, ensuring alignment with the core values of the Vietnam National Brand Programme: Quality - Innovation - Leadership. Second, he stressed the need to provide businesses with information on global trends in production, business, and investment, such as green trends, sustainable development, and non-tariff barriers, thus enabling them to create plans and strategies to meet these trends, adhere to international regulations, and fulfil corporate social responsibilities. Third, he called for stronger communication efforts to promote the Vietnam National Brand Programme and recognised national brand products both domestically and internationally, with a particular focus on digital media.

In addition to policy support, Vietnamese businesses gained “strength and confidence” on October 22, 2024, when Nhan Dan Newspaper, in collaboration with the Ministry of Industry and Trade, launched the National Brand Digital Portal at http://thuonghieuquocgia.nhandan.vn. For the first time, Vietnam has a dedicated platform providing comprehensive, official, modern, and visually appealing data on the nation’s top brands and enterprises. Le Quoc Minh, Member of the Party Central Committee (PCC), Editor-in-Chief of Nhan Dan Newspaper, Deputy Head of the PCC’s Commission for Communication and Education, and Chairman of the Vietnam Journalists’ Association, stated that the portal contributes to promoting and developing Vietnamese brands, attracting investment, and enhancing national competitiveness, thus helping to propel the nation into a new era of growth for Vietnam.

According to Le Viet Hai, Chairman of the Board of Directors of Hoa Binh Construction Group, the portal brings practical value by promoting the image and elevating the stature of Vietnamese businesses. It serves as a critical bridge connecting National Brand-certified enterprises with communities both at home and abroad, while spreading the core values of the Vietnam National Brand Programme.