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Vietnam in top 10 Best Performing Nation Brands
The Hanoitimes – The nation brand of Vietnam is valued at 203 billion USD, up 5 places compared to the its rank in 2016. Meanwhile, the country is the 5th in the top 10 best performing nation brand, according to the annual report on the World’s most valuable nation brands of Brand Finance.
Brand Finance, an independent branded business valuation consultancy has recently released the top 100 nation brands. The brand valuation methodology employs various risk rates, the same rates used by potential investors when assessing the target country. However, perceptions are equally powerful, and it was often demonstrated that investment and B2B decisions are far from being exclusively rational. With this being said, Brand Finance measures the strength and value of the nation brands of 100 leading countries using a method based on the royalty relief mechanism employed to value the world’s largest companies.
Nation Brand Strength is the part of our analysis most directly and easily influenced by those responsible for their country’s nation brand campaigns. It is determined by reference to performance on dozens of data points across three key ‘pillars’; Goods & Services, Investment and Society. These are divided into sub-pillars; Tourism, Market, Governance and People & Skills. These are further subdivided into individual metrics. Each metric is scored out of 100 and together they contribute to an overall Brand Strength Index (BSI) score for the nation brand, also out of 100. Based on the score, each Nation Brand is assigned a rating from AAA+ to D in a format similar to a credit rating. For example, the UK’s score of 85 puts it in 10th place and gives it an AAA brand rating. As such, Vietnam is ranked at 45th, up 5 places compared to its rank in 2016. The nation brand of Vietnam is valued at 203 billion USD, with brand rating A+, which is considered strong.
Vietnam is the 5th in the top 10 best performing nation brand.
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According to Brand Finance, Vietnam stands at the fifth among 10 best performing nation brand. The brand value of Vietnam Philippines, Thailand and Korea have increased from 37% – 43% compared to last year. Currently, Vietnam’s processed food industry now contributes upwards of US$17 billion of Vietnam’s exports. The apparel industry makes up over US$22 billion of Vietnam’s exports. These economic contributions are absolutely crucial for Vietnam’s overall growth and would not have been entirely possible without the concentrated efforts by Vietnam’s government.
Besides, Vietnam also received Foreign Direct Investment (FDI) of 12.5 billion USD since the beginning of the year, up 13.4% compared to the same period of 2016. On the other hand, Philippines also experiences a strong growth similar to China with the GDP growth rate of 6.7%, thanks to its increasing in trade and software development. In Thailand, public investment is expected to increase by 9.2% in 2018 and the government expenditure will be maintained as a significant contribution to the economy. Export in Korea also increased, which is partly thanks to the strong growth in memory chip export and steel products.
In South East Asia, Vietnam brand is in the sixth, which is behind Indonesia, Malaysia, Thailand, Philippines, and Singapore. In the world, with value up to 21,1 trillion USD, the US is the most valuable brand, with China stands in second place for value of 10 trillion USD.
Source: http://hanoitimes.com.vn/economy/2017/11/81E0BA89/vietnam-in-top-10-best-performing-nation-brands/