Golden opportunity in online exports via international branding
Vietnam is on the cusp of an online export revolution, buoyed by supportive government policies and abundant production capacity, according to industry experts. However, a significant obstacle stands in the way: the lack of international brand recognition for many Vietnamese products.
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| A processing line for export in Vietnam. (Photo: Smart) |
Vietnam is on the cusp of an online export revolution, buoyed by supportive government policies and abundant production capacity, according to industry experts. However, a significant obstacle stands in the way: the lack of international brand recognition for many Vietnamese products.
Staples like cashew nuts, black pepper, and other spices are often sold on e-commerce platforms under foreign brands, concealing their Vietnamese origins. This deprives local businesses of valuable opportunities to promote their products and enhance their values, industry insiders said.
Organic Viet Food (OVF) is one of the companies that are trying to change this. The firm has launched its own cashew brand, Newbam, on Amazon, targeting the US and Canadian markets. By investing in packaging, design, and adhering to Amazon's strict guidelines, OVF aims to establish a strong brand identity for its products.
Ta Hoang Linh, Director of the Ministry of Industry and Trade’s European and American Market Department, believed that online platforms can help Vietnamese businesses expand their reach and improve product quality. Free trade agreements, coupled with e-commerce integration, offer immense potential for growth, Linh said.
To empower Vietnamese brands to compete globally, the Centre for Information Technology and Digital Technology under the Vietnam E-commerce and Digital Economy Agency has launched the Go Export programme. This initiative, in collaboration with major global e-commerce platforms and partners, equips Vietnamese firms with resources, training, and support to build their brands and conquer international markets.
Nguyen Van Thanh, director of the centre, highlighted the rapid growth of online retail e-commerce, with rates soaring between 16-30% over the past 4-5 years.Thanh said this is one of the fastest-growing sectors in the world, noting that Vietnam currently ranks third in online retail value in Southeast Asia, behind Indonesia and Thailand.
(Source: VNA)
