Viettel, VNPT lead Vietnam’s Top 10 most valuable brands
Telecom has become the most valuable sector on the list of 50 most valuable enterprises in Vietnam. This information was shared by Brand Finance and Mibrand Vietnam JSC last week.
Alex Haigh, Managing Director of Brand Finance Asia Pacific, said Vietnam has maintained its economic stability and now has a rapidly growing market that is becoming more diversified.
Vietnamese brands grew during the Covid-19 pandemic. In 2019-2022, Vietnam grew by 74% and was the market with the strongest growth.
In 2022, the total brand value of Vietnam’s Top 50 brands increased by up to 36%, much higher than other countries in the region.
Telecommunications is the most valuable sector. Four telecommunications brands have a total value of 13,136 million USD, followed by the banking industry with $8,504 million in brand value and 12 brands, and the food industry with $3,460 million and seven brands.
Among telecommunications businesses, Viettel is valued at $8.8 billion with a growth rate of 44.5% and has been the most valuable brand in Vietnam for the fourth consecutive year.
According to Brand Finance, Viettel Group's revenue grew significantly in 2021. Viettel Global (a subsidiary of Viettel Telecom) reported a record-high revenue of $237 million in Q1 2022, up 17% year-on-year.
Africa, Southeast Asia and Latin America play an important role in promoting Viettel Global's growth.
Having a slower growth rate but still holding second position in the top most valuable brands is VNPT with a valuation of $2.858 billion. Over the past five years, VNPT has grown in both brand value and brand strength. The group has signed agreements with the Vietnamese Government and partners to improve connectivity solutions and 5G access networks in Vietnam.
Meanwhile, MobiFone, one of the top 10 since 2015, has lost brand strength and lost 1.53 points on the Brand Strength Index (BSI) from 76 .95/100 points in 2021 to 75.42/100 points in 2022. However, Brand Finance forecasts that this brand will grow strongly thanks to becoming the first mobile operator in Vietnam to offer a money transfer service via mobile phones across the country.