The municipal People’s Committee assigned the Department of Industry and Trade and the Saigon Times Group to launch the award.
The award attracted 64 enterprises in different industries within one month after launch. It will be held annually.
The 30 enterprises are leading companies or at the top of their business and production industries.
Their total revenue in 2019 reached nearly VND252.8 trillion (US$11 billion), or 21.8 percent of the city’s total revenue of retail sales of consumer goods and services. Their total after-tax profit reached almost VND32.7 trillion.
According to the evaluation of the Voting Council, most of the products and service brands of the winning enterprises have undergone a long process of establishment and development. They have had a firm position in the marketplace and a good reputation in customers’ minds and made active contributions to the city’s economic development.
Bui Ta Hoang Vu, Director of the Department of Industry and Trade, said the 30 products and service brands are typical ones, representing the three core values of quality prestige, impressive brand, and ahead of trends.
Chairman of the HCMC People’s Committee Nguyen Thanh Phong said building and developing brands has always been the focus of the Party and the State, and it is also an important factor for sustainable development.
“The city pledges to support the promotion and development of corporate product brands, and support innovation and digital transformation to take advantage of the fourth revolution; and prioritize investment in logistics infrastructure, create smart and efficient connections, and reduce costs and improve competitiveness,” Phong said.
HCMC will develop a plan to support businesses winning the award, Phong added.
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