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>> Develop and protect Vietnamese labels abroad
>> A strong national brand, the key to competitiveness abroad
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A Vinamilk milk production line.
Photo : CTV/CVN |
In November 2020, 124 companies and their 283 products were honored “National Brand of Vietnam”. Their performance has supported national economic development and helped improve the country’s competitiveness on the world stage.
These companies own Vietnam’s best-known brands such as the Hoa Sen Joint Stock Company, the Vietnam Army Telecommunications Group (Viettel), the Mobile Network Operator VinaPhone and the Vietnam Post and Telecommunications Group. (VNPT)… Among them are “first generation” labels, which have been awarded several times since the launch of the “Vietnam National Brand” program in 2003. We can cite, among others, the Commercial Bank of Vietnam’s foreign trade (Vietcombank) or the Vietnam Dairy Joint Stock Company (Vinamilk).
Their common characteristics are both to dominate the domestic market and to spread their brands in the world market. Next to “emerging” sectors such as financial technology (fintech) or those with high potential such as agricultural products and clothing, Vinamilk is a good example in the beverage industry. With a near zero starting point in the field of milk and nutrition, she has made remarkable and tremendous progress. It is the only brand in Southeast Asia to appear in the Top 50 of the world’s leading dairy farmers, in the Top 1,000 of the largest brands in Asia, as well as in the 200 most powerful companies in Asia. It is the only company in the dairy industry to have maintained the title of “National Brand of Vietnam” for the past 12 consecutive years.
The first brand of Vietnamese milk
In 2020, Vinamilk achieved a turnover of 59.723 billion VND, an increase of 5.9% year-on-year. Its products are exported to 56 countries and territories, grossing more than US $ 2.4 billion. In the first quarter of 2021, its exports grew by more than 8% year on year. The company has 13 dairy farms in the country and a dairy complex in Laos housing a total of more than 150,000 cows.
At the ceremony to award the title of “National Brand of Vietnam”, held in November 2020, Vinamilk was awarded one of the most outstanding names in the dairy industry. In 2020, this great company also celebrated the 10e anniversary of the beginnings of the diffusion of its mark on the world market.
With its positive results, it shows that the national brand is not just recognition but is part of a serious business development strategy.
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Vinamilk dairy cow farm in Tây Ninh province (South).
Photo : VNA/CVN |
The dairy industry demands high technology and good product quality. It is very difficult for Vietnamese dairy brands to compete with the “giants” of the world, in particular in demanding markets such as Europe, the United States or developed countries in Asia (Japan, Republic of Korea, etc.), which have defined very strict health standards which act as real barriers to entry into the market. In addition, Vietnam does not have the advantage in terms of raw materials, that is, in this case, dairy cows.
However, thanks to its ability to seize opportunities and great determination, since 1997 Vinamilk begins to export many types of dairy products. Then she set aside a big investment in building 12 dairy farms and 13 processing plants in the country. Recently, the company built a complex of organic dairy farms in Laos.
So far, its key products such as fresh milk, yogurt, Ông Tho condensed milk and Dielac baby milk powder are present in 54 countries and territories. Its export turnover was USD 2.4 billion.
Vo Trung Hiêu, its director of international trade, shares that Vietnam is integrating itself more and more deeply into the regional and world economy through free trade agreements such as that between the European Union and Vietnam ( EVFTA) or the Comprehensive Regional Economic Partnership Agreement (RCEP)… This is an opportunity but also a challenge for companies which must increase their competitiveness both in terms of products and brands if they want to win market share. Vinamilk will be increasingly active in asserting and developing the value of the Vietnamese dairy brand in major world markets.
Promote the values of national brands
According to a 2020 report, the 124 companies awarded the title “National Brand of Vietnam” posted a turnover of over 1.4 trillion VND and a total export value of 137 trillion. They have contributed 200,000 billion VND to the state budget and created more than 470,000 jobs.
According to Forbes Vietnam, Vinamilk’s brand value has gradually increased over the years, from $ 1.6 billion in 2016 to $ 2.4 billion in 2020. Despite the impacts of COVID-19, it is coming in topped the list of top 10 Vietnamese brands.
In the opinion of economists, Vietnamese companies have great opportunities to seize thanks to bilateral and multilateral agreements. To do this, companies must imperatively create specific strategies influencing the development of a brand that will be recognized internationally.
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