Vietnam’s brand name improves score

Vietnam’s brand name improves score

A country with a good brand name helps products and services access world markets.

Leading brand names

Vietnam’s top 50 brands achieved an aggregate increase in brand value of 36 percent year-on-year. In rankings, Vietnam jumped from the 42nd position in 2019 to the 33rd in 2021 and the 32nd in 2022, according to a new report by Brand Finance, a brand valuation consultancy.

Vietnam has seen the third-highest brand value gain over the course of the pandemic in absolute terms – up US$184 billion to US$431 billion in 2022 – but the world’s fastest growth in relative terms, up 74 per cent compared to 2019.

Viettel has been the most valuable brand in Vietnam for seven consecutive years

Vietnamese enterprises with significant brand value are all industry leaders in their fields, such as information technology (Viettel and FPT), food production (Vinamilk), banking (MB, Vietcombank, Vietinbank, and BIDV), industrial production (Hoa Phat and Petrovietnam), and aviation (Vietnam Airlines).

Viettel, the most valuable brand in Vietnam for seven consecutive years, is currently valued at US$8.8 billion (up 44.5 percent since 2019). Viettel has captured a large market share in 10 other countries, including Cambodia, Laos, Myanmar, East Timor, Peru, Haiti, Mozambique, Tanzania, Cameroon and Burundi, enhancing Vietnam's image as a dynamic and developing country.

Vinamilk, Vietnam's top dairy manufacturer, has reached a new milestone by being ranked 6th in the Top 10 Most Valuable Dairy Brands by Brand Finance. Available in 57 countries and territories with a total accumulated export turnover of US$2.75 billion, Vinamilk continues to research and develop new products to increase its penetration of key export markets.

Vietnam Airlines tops the list of domestic air transport firms in terms of brand value

A “win-win” relationship

According to economists, there is a reciprocal relationship between national brand development and corporate branding. Good branding will help a country's goods reach more markets. For example, Japanese and German products are known for their high quality and strict requirements.

Companies that have established their positions in the international market also raise their country of origin’s credibility. Apple and Microsoft, for example, have helped cement America with an image of the world's leading creativity and innovation.

Vinamilk is a top 10 most valuable milk brand in the world

Globalization and Industry 4.0 place each country in competition for investment, tourism and exports. Therefore, countries are making efforts to create imprints and brands to change the perception of tourists, consumers and stakeholders.

Alex Haigh, Managing Director of Brand Finance Asia-Pacific, said that developing countries like Vietnam should continue to increase their brand awareness to develop their economy. However, Vietnamese business brands need to be more transparent with all stakeholders and pay special attention to new trends, such as the criteria for Environmental-Social-and-Governance development (ESG).

Do Thang Hai, Deputy Minister of Industry and Trade said the Vietnam National Brand Program has actively contributed to promoting the image of Vietnam as a country with quality goods and services in both domestic and international markets. Enterprises with products that won the Vietnam National Brand have clearly demonstrated their pioneering role in developing the national brand, especially when the economy faces many challenges.

VietNam Economic News