Việt Nam News

National-branded products showcased in Germany

October 09, 2023 - 20:10

The event aimed to promote Việt Nam’s products and services, while fostering trade relationships with German companies.

National branded products being displayed at the event in Germany. — Photo congthuong.vn

HÀ NỘI — Việt Nam's national branded products have been introduced to German customers during a trade promotion event held recently in the European country.

Hosted by the Ministry of Industry and Trade (MoIT)'s Trade Promotion Agency, the event had the objective of showcasing national branded products, fostering trade relationships between Vietnamese and German companies, especially those owned by Vietnamese entrepreneurs, and establishing a stronger connection between the domestic brand and the Vietnamese community in Germany.

This event was organized as part of the Vietnam National Brand Programme in 2023, which aims to enhance the recognition of the Vietnam National Brand and promote products that have earned the Vietnam Brand title both domestically and internationally.

According to MoIT, an increasing number of businesses with products holding the national brand title entered the list of the top 50 brands with the highest value in 2022. The number of companies owning national branded products in this list surged from 14 in 2018 to 21 in 2022. Notably, their percentage in Việt Nam's top 10 most valuable brands also rose from 20 per cent in 2018 to 60 per cent in 2022.

These results showed the success of these businesses in aligning with the global trend of substantial investment in branding, contributing to the enhancement of the Vietnam National Brand, as stated by the ministry.

Việt Nam enjoyed the fastest growth in the national brand in the 2020-22 period. A report by Brand Finance showed that the value of the Vietnam National Brand increased by 29.1 per cent in 2020 to reach US$319 billion, followed by a 21.6 per cent surge in 2021, reaching $388 billion, and a further 11.1 per cent increase in 2022, reaching $431 billion. — VNS

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