The Cool Product Awards 2023 program organized by VnEconomy / Vietnam Economic Times (VET) has become a trustworthy source of information for millions of consumers, according to Dr. Pham Ngoc Linh, Vice President of the Vietnam Union of Science and Technology Associations (VUSTA).

He made the comment while addressing the Awards ceremony on December 21 honoring the Top 50 cool products and services in Vietnam as voted on by consumers.

Over the past 17 years, VnEconomy / VET has accompanied Vietnam’s retail market and business community and become a trusted information channel for millions of consumers around the country, he told the ceremony.

This year the program recognized and honored impressive ideas and innovations as well as success among businesses in the process of adapting to the new wave of consumption.

It also honored products and services that applied modern technology, AI, or virtual reality.

“We are living in an era of digital transformation, where technology is rapidly changing how we access and interact with the world,” Dr. Linh said. “Digital advancements have opened up many new opportunities and challenges, not only in production and business processes but also in transforming marketing and advertising methods.”

Faced with this reality, media and press entities in Vietnam need to continually update new technologies, expand various forms of communication, and cooperate with businesses to contribute to the digitization and greening of the retail industry, he added.

He believes the Awards will continue to excel in the years to come, maintaining and strengthening the retail business community. It will therefore further contribute to fostering two-way and multi-dimensional information exchange between manufacturers, distribution channels, and consumers.

This will create cohesion for the transparent and valuable development of Vietnam’s consumer market, he added.