100 most valuable Vietnamese brands on the limelight

100 Vietnamese businesses with the highest brand value being honoured at a ceremony in HCM City on October 11. – VNA Photo

HCM CITY - Consultancy Vietnam Brand Purpose and global consultancy Brand Finance honoured the 100 most valuable Vietnamese brands in 2024, including Viettel, Vinamilk and VNPT, at a ceremony in HCM City on Friday.

The top three brands were Viettel with a brand value of US$8.9 billion and Vinamilk and VNPT ($2.6 billion).

Other valuable brands include GELEX, Vietjet, VPBank, Vietinbank, PNJ, and Vinhomes.

As part of the event, this year’s Brand Finance Vietnam 100 Report was also released to provide a comprehensive picture of the valuations.

Việt Nam is the country with the most rapid brand value growth in the world between 2019 and 2023 - 102 per cent - reaching $498.13 billion in 2023.

It currently ranks 33rd out of 121 in terms of strongest national brand.

Nguyễn Thanh Giang, CEO of Vietnam Brand Purpose, said with the economy facing numerous challenges, global uncertainties and tough competition from international brands, this report could help businesses improve their investment attraction and reinforce their competitive advantages.

She said consumers were placing more and more importance on sustainability.

Integrating it into brands and their promotion could be a challenge, but would pay dividends when done well, she said.

Trần Thị Kim Phượng, director of FPT Software Hồ Chí Minh, said her company was a pioneer in technology trends and focused on expansion and communicating its brand message to consumers, which helped it secure its brand position in both the domestic and foreign markets.

Alex Haigh, managing director of Brand Finance Asia-Pacific, said brand story communication played an increasingly important role in enhancing a business’s brand value and market share.

But it must be done regularly to ensure familiarity among customers and gain the trust of buyers and other business partners through consistent and transparent messages.

If brand story building is linked with local culture or resources, businesses can contribute to positioning the country’s national brand on the global map, and this could encourage other domestic brands to grow, according to Haigh.

Vietnam Brand Purpose and Brand Finance are working together to deploy measures that elevate Vietnamese brands in both the domestic and foreign markets.