According to Brand Finance, a U.K. marketing consultancy, Vietnam has become the fastest growing nation brand, with its value skyrocketing 29% to $319 billion in the latest global rankings.
According to Brand Finance, Vietnam improved by 9 places and was #33 on this year’s list of the world’s 100 most valuable brands. In the 2019 rankings, Vietnam has ranked #42.
Brand Finance’s ranking methodology is based on three areas that are measured: goods and services, investment, and society. The company says that a strong national brand denotes a highly attractive environment for investment, encouraging inward investment, adding value to exports, and attracting tourists and skilled migrants.
In announcing its new rankings, a spokesman said: "Vietnam, which has recorded staggeringly low Covid-19 cases and deaths, has emerged as one of the top locations within the Southeast Asian region for manufacturing, and has become an increasingly attractive destination for investors, particularly from the U.S., that are looking to relocate their China operations following the fallout from the U.S.-China trade war."
The company added that Vietnam’s continued rise in its yearly rankings is due in large part to the Vietnam governments national program, "Vietnam Value", which endorses products and services that meet standards set out by the government, and which also include the government’s efforts to promote economic growth.
The global COVID-19 pandemic has seen global economies in turmoil throughout 2020, with businesses and investors seeing safe and stable markets that have been successful in managing the COVID-19 health crisis in their countries, while continuing to focus on long-term growth.
Because of Vietnam’s strict and quick efforts, which started in January, the country has been successful with quarantine and contact tracing measures, even though it has experienced two COVID-19 waves, and a mini-outbreak in November in Ho Chi Minh City.
As of this date, Vietnam has been very successful in keep the COVID-19 virus in check, with only 1,412 infections and 35 deaths being recorded against a population of 96 million people. Because of its success in controlling the virus, Vietnam has seen the majority of its economic activities return to normal, and its citizens are leading normal lives with minimum disruption.