The Vietnam Value has moved up one spot to 32nd out of 100 strong national brands globally, with its value hitting US$431 billion, according to a Government official.

Many reputable international organizations have highly appreciated the Vietnamese economy’s sound performance in 2023 and its future positive outlook, said Tran Van Son, minister and head of the Government Office, at a press briefing in Hanoi on January 5.

He cited Fitch Ratings’ December 2023 announcement saying this organisation upgraded Vietnam’s long-term foreign currency Issuer Default Rating (IDR) to BB+ from BB, with a stable outlook.

The upgrade reflects the country’s favourable medium-term growth outlook, underpinned by robust foreign direct investment (FDI) inflows, which Fitch Ratings expects will continue to drive sustained improvements in its structural credit metrics.

According to Brand Finance, the world’s leading independent brand valuation and strategy consultancy, Vietnam continues to be considered a bright spot in the national branding picture, recording with the fastest value growth rate of 74% in the world in the 2019-2022 period.

Despite the impact of the COVID-19, the Vietnam Value rose 29%, 21% and 11% in 2020, 2021, and 2022 respectively to US$319 billion, US$388 billion and US$431 billion.

Vietnam is increasingly perceived as a safe and stable place to invest as many manufacturers look to relocate operations in Asia to Vietnam, according to Brand Finance.

The country has gained momentum and is known as an attractive destination for foreign investment thanks to its successful fiscal and monetary policies and investment in human capital.

VOV