Vietnam Value Forum 2021 officially kicked off

Vietnam Value Forum 2021 focused on the diverse concerns of local businesses, especially on finding ways to take advantage of the programme and enhance the positions of Vietnamese companies in local and international markets.

The event also gathered numerous international economic experts, representatives of businesses, and representatives of local authorities, as well as local and overseas organisations.

The Vietnam Value Programme was approved by the prime minister in Decision No.253/2003/ND-CP dated November 25, 2003. The government assigned the Ministry of Industry and Trade to develop the programme, aiming to promote the nation's image through high-quality "Made in Vietnam" goods.

“Over the recent years, the image of Vietnam Value has constantly improved in the global playground thanks to the government's efforts in reforming the business climate and also extending bilateral and multilateral relations," said Do Thang Hai, Deputy Minister of Industry and Trade. "These have contributed to boosting import-export activities, benefiting domestic brands.”

According to Brand Finance, in 2020 Vietnam was one of the countries recording significant growth in national value with a scale of $319 billion, up 29 per cent on-year. Thanks to that, Vietnam Value climbed 9 levels to be the 33rd most valuable national brand in the world.

Besides, the report said Vietnam was the only regional nation increasing the rankin the Global Soft Power Index 2020, from the position of 50th out of 60 to 47th out of 150 nations. Contributing to the achievement is the growth in ranking of the national value and positive results related to the economy.

Thanks to the programme, many local businesses have step-by-step built up and develop their brands. The number of businesses receiving the Vietnam Value Awards has kept increasing, from 30 in 2008 to 124 in 2020, with 283 items, with many products achieving regional and global recognition.

“The forum is organised in the context that a string of free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the EU-Vietnam Free Trade Agreement have become valid to stimulate local economic integration,” said Hai. “I hope Vietnamese companies will actively grasp opportunities to be better involved in the global value chain, beefing up their brands and the nation's image.”

Accompanying the programme, marketing specialists from MVV Group will support local businesses by providing skilled consultants to better take advantage of Vietnam Value in promoting their brands and products while also offering solutions to efficiently penetrate new markets.

Mr. Vu Ba Phu, General Director of Trade Promotion Department, Ministry of Industry and Trade, said that after 17 years of implementing the program of voting national brands of seven brands, we have witnessed the continuous growth of many domestic enterprises.

By 2018, this had grown to 97, and this year we have registered 124 businesses and their brands.

However, the growth of the business community is not only in the number of enterprises participating, but also in exports, sales, contributions to the state budget, as well as their efforts in social responsibility. and job creation.

At the first selection in 2008, we saw only 30 selected companies with their products. By 2018, this had grown to 97, and this year we have registered 124 businesses and their brands.

For example, the national brand recognized enterprise in 2018 achieved revenue of about 907 trillion VND (39.4 billion USD), export turnover reached 130 trillion VND (5.6 billion USD), contributing 85 trillion VND (3.7 billion USD) to the state budget and created 340,000 jobs.

Meanwhile, this year, those figures have increased to 975 trillion dong (42.4 billion USD) and 123 trillion dong (5.34 billion USD) by 2020, with the amount contributed to the bank. State books amounted to 179 trillion VND (8.5 billion USD) and 350,000 new jobs were created - all despite the pandemic.

Vu Ba Phu also said that, the Ministry of Industry and Trade has supported businesses in difficulty. After the first months of the health crisis, the domestic market was redefined.

Right from the beginning of the year, following the direction of the Government, the Ministry of Industry and Trade has worked with ministries, branches and localities to implement supply-demand activities across the country to remove difficulties for businesses in production. and distribution.

In addition, to support businesses with high quality brands, we have also been integrating selected brands into national promotions such as the Clean Food Program to vote Vietnamese products for local people.

The integration of such programs has helped grow the domestic market since the beginning of the year, despite the economic consequences of the pandemic. This shows that the communication, promotion and support efforts of the Ministry of Industry and Trade and its agencies so far have been effective.