Achieving the Vietnam Value is not only an honor but also a clear testament to a company's sustainable development, reputation, and product quality in the market. This recognition serves as an essential certification, reinforcing the position of the company both domestically and internationally. However, to attain this title, companies must go through a complex selection process that requires thorough preparation and compliance with strict criteria regarding quality, innovation, and pioneering capability. So, what are the criteria that a product must meet to be recognized as a Vietnam Value? Let’s explore the detailed registration process with SB LAW through this article.
1. Criteria for Registered Products
According to Article 6 of Circular 33/2019/TT-BCT, products eligible for consideration as Vietnam Value must meet the following requirements:
- Vietnamese Products or Goods: The products must be produced in Vietnam and comply with domestic legal regulations on production and quality standards.
- Intellectual Property Protection: The product or goods must be protected under intellectual property laws in Vietnam, ensuring legal status and the rights of the owner.
Not only the products but also the companies producing these products must meet specific requirements as follows:
- Established in accordance with Vietnamese law: The company must be legally established and operate according to Vietnamese regulations.
- Ownership of intellectual property protection documents: The company must hold a valid intellectual property protection certificate for the product registered for consideration, proving legal ownership.
- Minimum of 2 years of operation: The company must have at least two consecutive years of operation before participating in the selection process.
- Compliance with legal regulations: The company must comply with all regulations on production, investment, business, environmental protection, financial obligations, tax, a Decision 30/2019/QĐ-TTg other social responsibilities.
2. Registration Process and Required Documents for Vietnam Value Product Selection
According to Article 8 of , the process and procedure for selecting products for the Vietnam Value are as follows:
The selection process is held every two years in even years. Companies must submit their application before March 31 of the selection year to the Ministry of Industry and Trade via:
- Postal services;
- Direct submission at the Ministry's headquarters;
- Online submission through the Ministry's public service portal.
The required documents for registration include:
- Application form (as per the template);
- Confirmation of tax and social insurance compliance for the two consecutive years before the selection year;
- Audited financial statements;
- Intellectual property protection certificate for the product;
- Product quality certification (ISO, HACCP, VietGap, GlobalGap, etc.);
- Awards and recognitions related to product quality and brand reputation (if any).
3. Criteria for Vietnam Value Product Selection
According to Appendix 2 of Circular 25/2021/TT-BCT, products aiming for Vietnam Value recognition must meet the following three main criteria:
Criterion 1: Quality
- Compliance with national and international standards: Products must adhere to quality, food safety, environmental, and consumer health standards.
- Certification and Inspection: The products need to have quality standard certifications from relevant authorities and be inspected by reputable organizations.
Criterion 2: Innovation
- Application of advanced technology: Companies must continuously innovate and apply new technologies in production and business to enhance product quality.
- Product creativity: The product must have unique, creative features that provide an excellent experience for consumers and have the potential to compete in international markets.
Criterion 3: Pioneering Capability
- Market leadership: The product should demonstrate a leading role, create trends, and contribute positively to industry development.
- Sustainable development strategy: The company must have a long-term strategy focused on sustainable development and creating lasting value for the community.
According to Article 8 of Circular 33/2019/TT-BCT, the selection process is conducted with specific principles:
- Scoring Method: The maximum score is 1,000 points, with a minimum of 650 points required for eligibility.
- Points per criterion: Each criterion (quality, innovation, pioneering capability) must achieve at least 60% of the maximum score.
The Vietnam Value recognition not only affirms the reputation and quality of a product but also opens up opportunities for international market expansion. To achieve this recognition, companies need to be well-prepared and strictly adhere to legal procedures. SB Law is ready to accompany businesses throughout this process, helping you achieve sustainable success.
