Brand development brings many advantages to businesses

DNHN - "Made in Vietnam" is a relatively young product origin in the international arena, although Vietnam has joined many trade organizations and most countries in the world have Vietnamese people living there. Only in the past few decades has the development of this brand attracted the attention of the domestic public.

Mr Hoang Minh Chien - Deputy Director of the Trade Promotion Department (Ministry of Industry and Trade) once shared that, although he has spent more than 17 years implementing the National Brand program and also achieved many remarkable achievements, somewhere enterprises are still not aware of the role of national brands.

 "The way to position the product's brand is not correct, so many transactions we have not yet lost, many products that want to go to the big sea have to be named under the name of another brand or another country," said Mr Hoang Minh Chien.

And Mr Nguyen Xuan Phu - Chairman of the Board of Directors of Sunhouse Group Joint Stock Company gave a specific example, a pair of shoes made in Vietnam people only receive 3-5% of the value, 70% of which is located in the transportation costs; state tax collected 7-10%; 10-15% brand value.

Thus, with products of multinational corporations manufactured in Vietnam, Vietnamese people only receive 3-5% of the value of "Made in Vietnam." All other values ​​return to the country in which the trademark is registered.

According to experts, Vietnam has lost many advantages and opportunities due to its nascent product brand, many business leaders expressed that they were invited to consume in the host country but asked to “source-wash” due to its “Made in Vietnam” origin has not yet resonated with consumers.

According to the Department of Trade Promotion, when businesses work together to build a strong brand and have a position and a foothold in the international market, the advantage of the brand will bring fairness in international trade disputes.

Therefore, being aware of the advantages of the brand, many Vietnamese companies are also improving the brand value in the global rankings so that national brands and corporate brands have a common voice.

The building of national and corporate brands must be communicated more widely so that each citizen is aware that building a brand is not the work of any individual or business and affirming that farmers, workers, traders and businesses are all beneficiaries of the national brand.

PV