50 years of building and developing brands of Vietnamese products towards global consumers has been a very challenging journey. The good news is that Vietnamese products are increasingly going global amidst deep integration and fierce competition.
Half-century-old brand-names
As the Lunar New Year is approaching with busy activities, General Director of OPC Pharmaceutical Joint Stock Company Pham Thi Xuan Huong eagerly shared that 2024 was a year with numerous economic fluctuations in the world directly affecting the production and export activities of the company, especially in Eastern Europe, which is a traditional export market for the company. However, the company revenue exceeded the set target. Ms. Xuan Huong enthusiastically talked about the product "Cao Sao Vang" (Golden Star Balm).
The product has existed before 1975 up to now. The only difference is that the product consumption is not limited to the domestic market but it is also exported globally, notably to Eastern Europe. This herbal product is suitable with cold weather and is well-consumed in countries like Japan, the Republic of Korea, Eastern Europe and so on.
At Saigon Cosmetics Corporation (SCC), Chairwoman of SCC Nguyen Kim Thoa told Sai Gon Giai Phong Newspaper’s reporters that the company was founded in 1975. Over 50 years of development, it has created hundreds of different perfumes, categorized into high-end or mid-range lines.
However, SCC's pride is the Miss Saigon Elegance collection. This collection stands out with its bottle design featuring a girl in Ao Dai (traditional Vietnamese dress) wearing a conical hat, embodying Vietnamese culture.
This product line has been certified as a national brand. Recently, SCC created a perfume line featuring the Mekong Delta region's characteristics, named Notes of Mekong, using agricultural and herbal ingredients from the Mekong Delta.
Besides, in 2024, many Vietnamese-branded products shone in the international market, such as Vinamilk, Black Cat Soy Sauce, Three Ladies Rice and ST25 Rice. Additionally, the cereals rice vermicelli of Mr. Rice has been recognized globally by trade organizations as a trend, unique, and distinctly Vietnamese product. The presence of Vietnamese-branded products is increasingly strong in highly demanding markets worldwide, such as the United States, Europe, Japan and Halal ones.
Vietnamese products present everywhere
According to the latest report from the World Trade Organization (WTO), Vietnam ranks 23rd among the 30 biggest economies in global merchandise exports, with an export-import turnover of US$800 billion. The country has become one of the top 20 countries in terms of international trade volume, accounting for 2.5 percent of global export-import turnover.
Vietnam has achieved the milestone for the first time, affirming its important position in international trade. Quality is not the only factor. The "Vietnam 100 2024" reported by Brand Finance shows that Vietnamese enterprises have made significant progress in building and developing brands over the years. In 2024, Vietnam's national brand value reached US$507 billion, ranking 32nd out of 193 countries, up 2 percent in value and one position compared to 2023.
A brand is the price that partners and consumers are willing to pay extra for a product. Vietnam has great potential in brand building and development in both domestic and foreign markets thanks to its wide range of products with distinctive and high-quality characteristics.
Especially, many products have regional characteristics, such as OCOP (One Commune One Product) products.
The important matter is that each enterprise needs to be clearly aware and invest appropriately in the quality and brand of its products. That will help Vietnamese products have a solid standing in the global market in terms of both quantity and value, according to Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy.
