Strong innovation

According to the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade, despite difficulties and challenges in the global economic, political, and trade situations, trade promotion activities in 2024 yielded positive results.

In 2024, the national trade promotion program supported nearly 6,000 businesses, cooperatives, and local trade promotion organizations

Last year’s trade promotion activities were strongly innovated and implemented synchronously through national programs on trade promotion, national branding, digital transformation in trade promotion, and more.

In 2024, the national trade promotion program supported nearly 6,000 businesses, cooperatives, and local trade promotion organizations. The total value of contracts signed at international trade fairs and exhibitions reached nearly US$100 million, while sales at regional fairs and exhibitions amounted to hundreds of billions of dong, attracting nearly 100,000 visitors.

National trade promotion activities have helped position brands, enhance the competitiveness of products and industries, and facilitate the circulation of Vietnamese goods. They have also assisted Vietnamese businesses in strengthening connections with international markets and participating more deeply in global value chains.

The Vietnam National Brand Program 2024, themed "Advancing into the Green Era," has recognized 359 products from 190 businesses as Vietnam National Brand products. Thanks to the efforts of businesses and the support of government agencies, Vietnam’s national brand value in 2024 reached US$507 billion, ranking 32^nd out of 193 countries, one place higher and a two-percent rise in value compared to 2023, according to a report by the brand valuation organization Brand Finance. In 2023, Vietnam’s national brand was valued at US$498.13 billion.

National trade promotion activities have helped position brands and enhance the competitiveness of products and industries

Diversification

To enhance the effectiveness of trade promotion activities, Vietrade has proposed three key tasks for 2025. These include:

First, trade promotion activities will be carried out with a focus on market diversification, effectively leveraging free trade agreements to boost exports to major markets, while seeking access to new and potential markets. Trade promotion activities will focus on key markets and priority products in each phase, in alignment with global economic trends, leveraging opportunities in both international and domestic markets.

Brand building and development will be strengthened with a focus on promoting national brand products in foreign markets. This includes creating appropriate media products to promote the national brand, products with national brand certification, industry brands, and geographical indications on social media platforms to create a viral effect. Further efforts will be made to support the protection of trademarks and geographical indications for Vietnamese products, such as rice, coffee, and seafood in international markets.

Second, appropriate trade promotion activities will be carried out to develop the markets for raw materials and products that meet the criteria of a circular economy. Special attention will be given to promoting green, environmentally-friendly products to contribute to green transition, support businesses in enhancing their competitiveness, and help them participate more deeply in global value chains.

Third, consulting programs will be implemented to enhance the competitiveness of businesses by providing them with updated information about the markets, trade policy changes, standards, regulations, and consumer tastes in importing markets. This will facilitate Vietnamese businesses’ access to foreign markets. Additionally, businesses will also be provided with training on trade promotion skills and the application of information technology in trade promotion./.