Insiders advocate for enhanced branding to boost the competitiveness and global presence of Vietnamese agricultural products. With 11 export items each generating over $1 billion, agriculture remains a vital sector for Vietnam. January 2024 saw a 79% increase in agricultural exports, penetrating tough markets like the US and Australia. Yet, 90% of these exports are primary commodities with lower value and minimal brand recognition compared to international counterparts. Notably, 80% of Vietnam's agricultural products are marketed under foreign brands, diminishing their market value.
Experts stress the urgency of establishing brands for Vietnamese farm goods. Economist Vu Vinh Phu highlights the necessity for stable and traceable supply chains, urging collaboration between local farms and companies for quality and branding. Government and businesses are encouraged to secure brand registrations abroad, innovate in seed technology, and develop geographical indications to enhance product value.
Source: vietnamnet.vn
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