Vinamilk ranks sixth among the world’s top ten most valuable dairy brands and second in global brand strength. (Photo: Hanoimoi.vn)
Private sector's rising impact
According to Brand Finance, Vietnam’s national brand value reached USD 507 billion in 2024, placing the country 32nd globally, up one place from the previous year. This milestone reflects collective national efforts, with key contributions from pioneering private companies such as VinFast, Vinamilk, Masan, Duy Tan, and TH True Milk. These enterprises have not only penetrated global markets with high-quality products but also developed compelling brand narratives, driven innovation, and maintained a strong commitment to sustainability.
The number of companies awarded the Vietnam Value title grew from 30 in 2008 to 190 in 2024, representing 359 products. These firms generated VND 2.4 quadrillion (approximately USD 91.7 billion) in revenue, contributed VND 150 trillion to the state budget, and created employment for over 600,000 workers.
Among them, Vinamilk has played a key role in promoting Vietnamese brands globally. It was ranked sixth among the world’s top ten most valuable dairy brands and second in brand strength, according to Brand Finance.
Other notable names include TH Milk and Nafoods in the food and agriculture sectors, and PlasmaMED in high-tech healthcare. These companies exemplify how Vietnamese private enterprises are going global through product quality, brand identity, innovation, and sustainable development, contributing to Vietnam’s image as a dynamic and responsible member of the international community.
Hoang Minh Chien, Deputy Director of the Ministry of Industry and Trade’s Trade Promotion Agency, said the achievements of the National Brand Programme would not have been possible without the determined and long-term efforts of private companies. Amid globalisation and fierce competition, private enterprises’ proactive investment in technology, management, and branding is crucial to enhancing the value of Vietnamese goods and services and strengthening the country’s global image.
Support mechanisms needed
Despite their vital role in promoting Vietnamese brands abroad, private enterprises still face major challenges. In addition to limitations in capital, technology, and talent, the lack of effective support policies remains a significant obstacle.
Dau Anh Tuan, Deputy Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI), noted that although Vietnamese products are available in over 200 countries and territories, many brands struggle overseas due to weak intellectual property protections, poor communication strategies, or stiff competition from similar-tier products from China, Thailand, and the Republic of Korea.
He stressed that national brand building requires joint efforts from the State, business associations, trade promotion bodies, enterprises, and consumers.
To empower private enterprises to play a greater role, Chien suggested that the government should further improve the investment and business environment to create favourable conditions for long-term, sustainable private sector growth.
At the same time, the State should adopt policies that encourage the application of scientific and technological advances, sustainable business models, and cleaner production methods. It should promote entrepreneurship and innovation, support productivity growth, develop high-quality human resources, and improve corporate governance. Strengthening the role of business associations is also essential.
From the enterprise side, Chien urged companies to focus on developing high-quality products that reflect Vietnam’s unique strengths. He emphasised the need to standardise and digitise operations in line with international standards to improve competitiveness, reduce waste, and remain responsive in a rapidly changing global market.
He also called for people-centred management models that promote innovation, along with reforms in distribution systems to earn long-term trust from international consumers.
