Soft power helps Vietnam enhance national brand value: Expert
Vietnam has performed strongly in optimising soft power to enhance the value of domestic product trademarks, according to Vu Ba Phu, head of the Vietnam Trade Promotion Agency at the Ministry of Industry and Trade (MoIT).
A shrimp processing factory in Vietnam (Photo: VNA)
Hanoi (VNA) - Vietnam has performed stronglyin optimising soft power to enhance the value of domestic product trademarks, accordingto Vu Ba Phu, head of the Vietnam Trade Promotion Agency at the Ministry ofIndustry and Trade (MoIT).
Phu told a conference in Hanoi on April 22 that a reportfrom Brand Finance shows that, last year, Vietnam’s national brand value jumpednine places to 33rd among the 100 most valuable national trademarks.
He said that Vietnam was the only country among ASEANmembers to see a rise in its ranking in the global soft power index, from 50th in 2020 to 47th globally in 2021.
Moreover, Vietnam’s national prestige also increased lastyear thanks to the response and policies from the Government, especially on supportingbusinesses in building and promoting their trademark domestically andinternationally, along with the dynamism and efforts of businesses, he said.
In the future, he went on, MoIT will continue to cooperatewith ministries, sectors, and relevant agencies to create favourable conditionsfor and assist enterprises in national trademark promotion.
Meanwhile, Nguyen Thanh Son, CEO of the MVV Group, saidthe prestige of the national trademark encourages businesses to buildcommunications programs.
He added that businesses should focus on the benefitsthey can enjoy from the growing national trademark, including tools for self-assessmentand the timely introduction of changes.
Part of the Vietnam National Brand Week 2021 takingplace from April 19-25, experts at the conference offered advice to businesseson how to tap opportunities the national trademark presents and improve theirmarketing strategies.
They also proposed measures to support firms inpenetrating into international markets as well as setting up information systemsand updating knowledge about trademarks, to meet the criteria of the VietnamNational Brand Programme in the new circumstances./.
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Vietnam moved up three places from 50th to 47th in the Global Soft Power Index 2021, which ranks the world’s top 60 soft power nations, according to the Brand Finance Global Soft Power Index Report. Vietnam was the only country in ASEAN to be upgraded in the global soft power rankings.
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A shrimp processing factory in Vietnam (Photo: VNA) 
