Prime Minister figures out tasks for promoting Viet Nam National Brands

Participants in the event included Head of the Central Economic Commission Tran Tuan Anh, Minister of Industry and Trade Nguyen Hong Dien and leaders from ministries, agencies and localities nationwide.

This year, a total of 172 businesses with 325 products have been recognized as Viet Nam National Brands, an increase of 48 enterprises compared to 2020. 

The number of enterprises with products awarded with Viet Nam National Brand award increased from 30 in 2008 to 172 in 2022. 

These businesses have announced the revenue of VND1,570 trillion (over US$63.1 billion), contributed nearly VND129,000 billion (nearly US$5.2 billion) to the State budget and created around 600,000 jobs. 

According to the report of Brand Finance - the world's leading brand valuation consulting company, Viet Nam's national brand value in 2022 has increased by 11 percent to US$431 billion from US$388 billion.

Viet Nam had seen the third highest increase in brand value during the pandemic in absolute terms, up 74 percent from 2019.

The nation's top 50 brands achieved an aggregate increase in brand value of 36 per cent on-year.

Addressing the event, the Prime Minister stressed the need to expand international market and take part in global supply chain.

He called for increasing the prestige, quality and competitiveness of Vietnamese brands through advancing production system and fostering transparency of financial activities.

Pham urged enterprises to accelerate innovation and application of science and technology to improve labor capacity and effectiveness of operation. 

The Government leader highlighted the importance of upgrading skills for laborers, speeding up digitalization, ensuring benefits for employees, protecting the environment, making more contribution to social security programs such as poverty reduction, and supporting people to overcome consequences of natural disasters and diseases./.