HCMC – Vietnam has posted the fastest growth in terms of national brand value in 2020 with a surge of 29% over last year to US$319 billion, according to the United Kingdom’s brand valuation consultancy Brand Finance.
In Brand Finance’s Nation Brands 2020 report, Vietnam jumped from the 42nd position last year to the 33rd place in its list of the top 100 national brands, the local media reported.
Vietnam, which has recorded staggeringly low Covid-19 cases and deaths, has emerged as one of the top locations in Southeast Asia for manufacturing and has become an increasingly attractive destination for investors, particularly from the United States, who are looking to relocate their operations from China following the fallout from the United States-China trade war.
Free trade agreements between Vietnam and the European Union and the United Kingdom will also support Vietnam’s economic, commercial and investment activities.
According to Brand Finance, 2020 has put the world to the test – from the economic impacts of Covid-19 on countries’ gross domestic product forecasts to inflation and general economic uncertainty. In general, losses to the 100 most valuable national brands worldwide amounted to US$13.1 trillion.
The United States remained the world’s most valuable brand, at US$23.7 trillion, followed by China and Japan.