Viettel is Vietnam’s most valuable brand at US$8.8 billion
Viettel (brand value up 44% to US$8.8 billion) is the most valuable Vietnamese brand, according to a new report from leading brand valuation consultancy, Brand Finance. Viettel has retained the crown as the most valuable Vietnamese brand for the fourth consecutive year, ahead of second-ranked VNPT (brand value up 4% to US$2.9 billion) and Vinamilk (brand value up 18% to US$2.8 billion).
Viettel projects an image of environmental sustainability, including support for urban biodiversity, as is evident throughout its corporate headquarters. Viettel Global, a subsidiary of telco Viettel and one of Vietnam's biggest overseas investors, reported a record-high quarterly revenue of US$237 million in Q1 of this year, up 17% year-on-year. The African region, Southeast Asia and Latin America all remain a significant driver of Viettel’s global growth.
The pandemic brought many challenges to Vietnamese brands but at the same time it also brought with it opportunities and a renewed sense of brand purpose. We observed the actions of many local Vietnamese brands as they stepped up to support the Government during this time of crisis.
Lai Tien Manh, Country Representative, Brand Finance Vietnam
VNPT (US$2.9 billion) and Vinamilk (US$2.8 billion) are 2nd and 3rd most valuable
Behind Viettel, another telecoms brand, VNPT (brand value up 4% to US$2.9 billion), remains the second most valuable Vietnamese brand. In the last five years, VNPT has increased in both brand value and brand strength.
VNPT has ranked second in the national ranking for four consecutive years and in the top three since 2017. In recent years, the brand has been signing agreements with the Vietnamese government and other partners to improve connectivity and 5G mobile access in the country.
Vinamilk (brand value up 18% to US$2.8 billion) ranks third in brand value with an 18% growth in brand value this year. Vinamilk has ranked third for four consecutive years and as the most valuable food brand in Vietnam, it continues to make constant efforts to conquer international markets, aiming towards its long-term goal to be one of the 50 biggest dairy brands worldwide.
Vietnam’s top 50 most valuable brands have increased in brand value by 36%
Vietnam’s top 50 brands achieved an aggregate increase in brand value of 36% year-on-year. Despite the negative consequences of COVID-19, the nation’s biggest brands were able to deliver commendable results and brand value growth. Since the Vietnamese economy is dependent on exports to nations including USA, China and Japan, supply chain issues continue to affect the growth of Vietnamese brands.
Over the course of the pandemic, the nation’s ability to export to key destinations increased and was able to recover with growth in brand values across the ranking. The top ten Vietnamese brands are worth US$24.4 billion this year, accounting for 67% of the US$36.4 billion of the top fifty Vietnamese brands.
There are four new entrants in the ranking that reflect stronger brand values across the ranking. The four new entrants in the ranking are: Nam Long (brand value US$164 million), Vinacomin (brand value up 97% to US$83 million), Chin-Su (brand value up 97% to US$68 million), and Masan Consumer (brand value up 84% to US$66 million).
Despite the pandemic, Vietnam has maintained its economic stability and is rapidly developing with the help of technology. However, to continue to grow in brand value and help the country move from being product-oriented to marketing and brand oriented, Vietnamese brands need to be open to change, react quickly, diversify and become more visible. In this way they would be better positioned to all stakeholders.
Alex Haigh, Managing Director Brand Finance Asia Pacific
Telecoms, banking, and food sectors contribute the most value to the ranking.
The four telecoms brands – Viettel, VNPT, Vinaphone (brand value up 11% to US$859 million) and Mobifone (brand value down 21% to US$661 million) – have a sum total brand value of US$13.1 billion and compromise the largest economic sector by brand value in the Vietnam 50 2022 ranking. The banking sector follows with US$8.5 billion in brand value from twelve brands, with the food sector being the third-most valuable sector (US$3.5 billion from seven brands).
MB Bank is the strongest Vietnamese brand with a Brand Strength Index (BSI) score of 87.1 and brand rating of AAA.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in more than 35 countries and across nearly 30 sectors.
According to these criteria, MB Bank (brand value more than doubled to US$642 million) is Vietnam’s strongest brand, with a Brand Strength Index (BSI) of 87.1 out of 100 and a corresponding AAA brand strength rating.