Vietnam firms reap success through branding The Ministry of Planning and Investment (MPI) recently unveiled that as of December 31, 2014 it had approved 930 outward foreign direct investment (FDI) projects registered at VND14.85 billion. In calendar year 2014 alone, the MPI reported it approved domestic businesses request for 90 new and supplementary outward investment projects calling for total investment of US$4.93 billion. According to the report, Vietnamese businesses chiefly focused on investment projects in telecommunication sector followed by the agro-forestry-fishery sectors. It also reported that many Vietnamese businesses are achieving a high level of success competing in overseas markets. Vinamilk – Vietnam’s largest milk producer – is one of the success stories. With an aggressive overseas marketing campaign aimed at developing its brand, the company reportedly is on target to realising US$3 billion in overseas revenue by 2017. One of its more high profile projects is a US$3 billion dairy project in Poland, which the firm considers as the gateway to the European market. The company also has a controlling (51%) interest in a US$23-million dairy plant in Cambodia for which it recently announced expansion plans. Military-run telecom group Viettel has also had success in the Cambodian market. In 2009 it initially dumped millions into a Met-fone project in its Southeast Asian neighbour. With a well-thought out and innovative marketing plan it is well on its way to becoming a major player in the international telecommunications and information industry. Last year, the group launched a number of telecom services in Peru and Cameroon. So far, Viettel has been conducting business in nine countries and has achieved an average growth rate of 25% in recent years with revenues approximating US$1.2 billion annually. Leading market analysts have said the key to the success of the aforementioned three companies is that they implemented a strategic marketing campaign aimed at building their brand. In an integrated world, Vietnamese companies need to make the case to the consumers who they want to buy their product that it is high quality and distinctively different than all of the other products. Companies that can’t make the case that their product is uniquely different and innovative can’t compete are at a severe disadvantage in a highly integrated marketplace. The importance of building a brand is a lesson that spills over to competing in the domestic marketplace as well. Take the case of Da Lan toothpaste, Tribeco beverage and Bibica confectionery. All three of these companies failed to brand their products and instil in the consumer a brand loyalty. That mistake opened the door to companies like Uni-President of Taiwan and Lotte of the Republic of Korea to move in and takeover. On the other hand Bidrico strategically marketed their brand both at home and abroad in since it was first establishment in 1995. At present, Bidrico’s products are available at over 100 supermarkets nationwide and exported to more than 15 countries and territories-including the US, Germany, Japan, Myanmar, Laos, and Cambodia. ITA RICE is another successful model of branding that other domestic businesses should follow. The company invested heavily in its brand and it is paying huge dividends. Today the company’s name is synonymous with Vietnamese Good Agricultural Practices (VietGAP) and Global GAPand internationally-recognised set of farm standards that follows GAP. The firm pays meticulous attention to ensuring food hygiene and safety and increasing product quality by applying modern farming techniques and advanced technology for post-harvest preservation. Lien Viet Post Bank is another prime example of the importance of branding as its name conjures up an immediate image of a company with a strong corporate social responsibility (CSR) and that is what branding is all about. VOV