Improvement of brand value for Vietnamese enterprises

The 2020–2025 period recorded strong growth for the Viet Nam National Brand, with total value in 2025 reaching nearly 520 billion USD, ranking 32nd out of 193 countries, with the growth rate reaching 63%.

Internal capacity remains weak

According to a report by Brand Finance, Viettel has maintained its position as the most valuable brand in Viet Nam for the past 10 years (reaching nearly 7.4 billion USD), followed by Vinamilk (more than 2.6 billion USD) and Vietcombank (nearly 2.4 billion USD). However, the total value of the Top 100 Vietnamese brands in 2025 decreased by 14% compared to 2024, reaching only 38.4 billion USD. This reflects that the internal capacity of Vietnamese enterprises lacks consistency.

Ta Hoang Lan, Deputy Head of the Trade Promotion Capacity Development Division (Trade Promotion Agency, Ministry of Industry and Trade), commented that many Vietnamese enterprises still focus on outsourcing and subcontracting, while their capacity for design and building their own brands in the international market remains weak. Moreover, enterprises face many difficulties in meeting increasingly stringent standards related to the green economy, digital economy, and social responsibility, while awareness of intellectual property protection remains limited, leading to the loss of brands even in the domestic market.

Therefore, the challenge is not only to increase the number of exporting enterprises but also to improve quality and brand value. Vietnamese enterprises need to move beyond low-value outsourcing, shift towards mastering technology, promote innovation and design, and build their own brands, thereby positioning Vietnamese goods and services at a higher segment on the global map.

Lai Tien Manh, a brand expert from Mibrand Viet Nam, assessed that Vietnamese enterprises have the aspiration to build brands but still face limitations in implementation and management capacity due to a shortage of specialised human resources, lack of ideas, and limited creativity - core factors for building sustainable brands. A brand is an intangible asset that cannot be directly measured or grasped. Therefore, organising, structuring, and directing its development according to a unified or separate strategy requires very high management capacity, which many Vietnamese enterprises still lack.

On the other hand, many enterprises still view brand communication from a short-term perspective, expecting advertising costs to generate immediate revenue. This approach is not incorrect from a business standpoint, but it does not fully reflect the nature of brand building, as investments in branding usually do not generate instant sales but require time to gradually influence consumer perception, build a positive image, and then convert into economic value for the enterprise.

Using culture as a “lever”

Tran Dinh Tai, Deputy General Director of Hoa Sen Group Joint Stock Company, shared that a brand is like the “health” of an enterprise; if it is not regularly invested in and nurtured, it will deteriorate, leading to a decline in market credibility. The core of brand building is to create trust, because when customers trust a brand, they not only choose its products but also remain loyal over time. Therefore, throughout its 25 years of development, Hoa Sen has chosen not to pursue loud, short-term brand communication campaigns but instead focuses on building in-depth community programmes that deliver real value, targeting emotions and connection with consumers, thereby establishing sustainable trust.

With many consecutive years of achieving the National Brand title, the Hoa Sen brand has gained widespread recognition and affection in the domestic market, while gradually expanding internationally. However, the enterprise still faces many difficulties in promotion and market connectivity due to a lack of coordinated support. Tran Dinh Tai suggested that closer coordination between enterprises and state management agencies is needed to create shared platforms that support businesses in bringing their brands abroad.

Viet Nam needs to organise more international-scale events and exhibitions domestically, thereby attracting global partners to explore and conduct trade. If sufficiently strong connection platforms are established, enterprises will not have to act alone but can work together to create a “synergistic driving force” large enough to promote Vietnamese brands on a global scale.

Viet Nam possesses a rich and distinctive cultural foundation - an exceptional advantage in building a national brand.

Lai Tien Manh, brand expert from Mibrand Viet Nam.

According to Lai Tien Manh, Viet Nam possesses a rich and distinctive cultural foundation - an exceptional advantage in building a national brand. For example, iconic images such as the ao dai, conical hat, or brocade costumes are “brand materials” capable of directly touching the emotions and perceptions of consumers, creating lasting impressions. The Republic of Korea is a typical example of building a national brand through culture, from the K-pop wave, films, and cuisine to consumer products. The success of the Republic of Korea demonstrates that culture can become a “lever” to promote a national image and boost exports.

However, for Vietnamese enterprises to effectively exploit this resource, there must be leadership and support from the state in building an official cultural data repository that fully compiles the distinctive cultural values of Viet Nam, enabling enterprises to systematically explore, innovate, and develop their brands. Conversely, the state also needs to establish clear mechanisms to ensure that when enterprises utilise cultural values, they respect their origins and share benefits with the communities that own them.

Link to the original article