HCM CITY — The domestic market and the digital economy are opening unprecedented opportunities for Vietnamese products, but to seize them, businesses must rethink their approach from building sustainable brands and adopting digital technologies to protecting intellectual property and improving product quality, delegates told a seminar in HCM City on Tuesday.

Speaking at the seminar “Expanding Market Share – Positioning Vietnamese Brands in the Digital Space” held by Sài Gòn Giải Phóng newspaper, Nguyễn Văn Dũng, Vice Chairman of the HCM City People’s Committee, noted that with more than 100 million people and rising purchasing power, Việt Nam is emerging as one of Southeast Asia’s most attractive markets. The domestic retail market is valued at about US$180 billion and is projected to reach $350 billion by 2025.

At the same time, the digital space is becoming a “new frontier”. According to the e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company, Việt Nam’s e-commerce hit $22 billion in 2024 and could nearly triple to $63 billion by 2030. This offers a huge opportunity for Vietnamese products to reach tens of millions of consumers across the region, Dũng said.

Yet opportunities come with challenges. Vietnamese firms face tough competition from international brands with advantages in scale and quality, as well as an influx of low-priced imports. Growing intellectual property violations are also eroding the competitiveness of legitimate businesses.

“Protecting brands and asserting Vietnamese identity in the digital space is no longer optional but an urgent requirement,” Dũng warned. Only when each enterprise can clearly position itself with a trusted brand online will it be strong enough to defend domestic market share against imports and leverage new supply chains to boost exports, he said.

Economist Dr. Đinh Thế Hiển noted that while many companies are paying more attention to brand storytelling and quality, Việt Nam still lacks strong names in the mid- to high-end market. International marketing remains weak, and digital brand positioning is often underdeveloped, leaving Vietnamese goods in a “middle ground” between cheap Chinese products and regional premium brands.

He suggested applying digital tools to the customer journey to retain customers, optimise costs, and deliver personalised experiences, making brands more appealing and trustworthy.

Lessons from businesses

 

Bông Hoa Việt of Bình Minh Plastics JSC shared the company’s 50-year journey of brand building from a State-owned enterprise to a pioneering joint-stock firm. Despite its reputation, the company now faces rampant counterfeiting.

Brand is the golden key to growth, but counterfeit products are confusing consumers and causing damage to both businesses and buyers, he said.

Bình Minh has invested over VNĐ19 billion in anti-counterfeiting technology, set up a brand protection task force, and filed lawsuits, yet results remain limited. Stronger legal frameworks and enforcement are needed, he urged.

Vương Ngọc Dũng, marketing director of Saigon Cosmetics Company, said consumers today don’t just listen to advertisements; they want genuine reviews, real experiences, and immediate feedback. That is why SCC focuses on digital trust through transparent ingredients, consistent branding, attentive after-sales service, and diverse interaction channels.

“With trust in place, Vietnamese brands can compete fairly with foreign products in the domestic market,” he said.

 

From a distribution perspective, Nguyễn Ngọc Thắng, deputy general director of Saigon Co.op, emphasised that consumer trust in quality is decisive. Saigon Co.op maintains over 90 per cent Vietnamese goods on its shelves, with strict control procedures from supplier selection and legal verification to random quality checks at stores. Only products meeting the highest safety and quality standards are accepted, he said.

In exports, Nguyễn Đình Tùng, CEO of Vina T&T and vice chairman of the Việt Nam Fruit and Vegetable Association, said that Vietnamese agricultural brands remain weak due to fragmented production and uneven standards.

“Without clear brand identity, Vietnamese goods will struggle to join global value chains. With recognised brands, products can command higher prices and access demanding markets like the US and Europe,” he stressed.

Meanwhile, Trần Văn Chín, chairman of Arobid Technology JSC, said building brands on B2B e-commerce platforms requires transparent information, standardised product data, and quality digital experiences.

“Simply listing products online is not enough to make a brand stand out among millions of competitors,” he said.

According to Nguyễn Minh Đức, deputy general secretary of the Vietnam E-commerce Association, the biggest weakness of Vietnamese firms is the lack of long-term strategy. Many join e-commerce in a fragmented manner, without proper investment, which prevents them from building strong brands.

The association is supporting enterprises through data management training and trade promotion, but success ultimately depends on their own commitment, he said.

Nguyễn Anh Đức, deputy director of HCM City’s Department of Industry and Trade and chairman of the Vietnam Retailers Association, stressed that the digital space offers great opportunities but also requires a transparent legal framework, unified standards, and support from regulators. The State, associations, and enterprises must work closely together to turn opportunities into advantages. — VNS