The Top 100 product and service brands in Vietnam, as voted on by thousands of consumers over the last ten months, were honored by Vietnam Economic Times at the “Trust & Use” Vietnam Awards 2018 ceremony, with the theme “Trusted brands - Worthy consumers”, held on November 29 in Ho Chi Minh City.

After a survey conducted between January and October on 5,200 products and services, the Organizing Board received 21,000 votes and 61,000 online reviews on seven main categories: Banking - finance - insurance, Food and retail services, Fashion - cosmetics - beauty, Household products - furniture, Pharmaceutical and healthcare equipment, Tourism - hospitality - real estate, and Technology - telecommunications.

The ceremony was attended by leaders from the Vietnam Chamber of Commerce and Industry (VCCI), the State Bank of Vietnam Ho Chi Minh City Branch, leaders of the Ho Chi Minh City Department of Information and Communications, business associations, economic experts, and over 200 enterprises and consumers.

“The survey by Vietnam Economic Times will help companies better understand the perspective of Vietnam’s consumer market,” said Mr. Chun Hae Woo, CEO of Lock & Lock Vietnam. “These are on customer trends and business’s strengths and weaknesses, in order to improve themselves. Lock & Lock Vietnam this year entered the Top 10 consumer products.”

“I have been surprised every time I participate in this program. Every year, the topics are trendy, and this year’s are very suitable and help companies better understand current and future trends in local consumption.”

The common perception in the world today is that competition among enterprises in an environment of globalization and international integration is cultural competition, in which business ethics is a significant and decisive factor.

According to economists, the level of sustainable development of a business depends on business ethics, and growth in profitability is linked to the practice of business ethics. In the context of a rapidly developing market economy, however, business ethics has sometimes been overlooked.

In his opening address at the ceremony, Mr. Nguyen The Hao, Deputy Editor-in-Chief of Vietnam Economic Times, emphasized that Vietnam’s consumer goods market is now becoming increasingly competitive, especially in the digital era. Facing this pressure, quality is key. Businesses need to make a difference and impress with the value of their brands and products. Business culture and ethics must always be considered a vital philosophy for entrepreneurs’ existence and development.

Held for 13 years, the “Trust & Use” program has accompanied consumers and businesses in the consumer goods sector in Vietnam. The program has made great efforts and contributed to the development of the country’s consumer market.

The program integrates a wide range of analysis and in-depth information with publications and direct dialogue at forums, online exchanges, and media conferences, in order to help managers, policy makers, and enterprises acquire quality information.