Brand Finance – the world’s leading independent brand valuation and strategy consultancy – in conjunction with the brand consulting firm Mibrand Vietnam JSC has announced the 50 most valuable brands in Vietnam in 2022.

This is an annual event and the seventh year in which the Brand Finance Vietnam Forum has been organised in Vietnam.

Managing director of Mibrand Lai Tien Manh said, “We are really impressed with the spectacular growth rate of leading brands in Vietnam in 2022. The Brand Finance Vietnam 2022 report will become the most important measure for the success of brands in all fields across the country.”

Viettel is the most valuable Vietnamese brand for the seventh consecutive year

Viettel was ranked as the most valuable Vietnamese brand for the seventh consecutive year with a value of $8.8 billion, ahead of second-ranked VNPT (up 4 per cent to almost $2.9 billion) and Vinamilk in third (up 18 per cent to $2.8 billion).

Alex Haigh, managing director of Brand Finance Asia Pacific commented, “Despite the pandemic, Vietnam has maintained its economic stability and has become a rapidly growing and increasingly diversified market. However, to continue to grow in brand value and help the country move from being product oriented to marketing and brand driven, Vietnamese brands need to be open to change, react quickly, diversify, and become more transparent with all stakeholders.”

Vietnam’s top 50 brands achieved an aggregate increase in brand value of 36 per cent on-year. The top 10 Vietnamese brands are worth $24.4 billion this year, accounting for 67 per cent of the $36.6 billion of the top 50 Vietnamese brands.

According to the Brand Finance Forum 2022, insurance, real estate, and mechanical and construction are the fastest growing sectors, while telecommunications, banking, and food contribute the most to the rankings.

The four telecom brands have a total value of $13.1 billion and comprise the largest economic sector by brand value.

The banking sector follows with $8.5 billion from twelve brands and the food sector is the third-most valuable with $3.46 billion from seven brands.

In the top 50, Bao Viet Group has a brand value of $731 million, ranking 14^th.

In the banking sector, MB Bank is the strongest Vietnamese brand, while Techcombank has had remarkable growth as it increased five places compared to 2021 to enter the top 10 for the first time.

VietinBank ranked ninth, up one place compared to 2021. Agribank continued its steady growth momentum with a growth value of 22 per cent, maintaining its position as the most valuable bank brand in Vietnam.

Some brands have stable growth value such as VPBank (up 37 per cent compared to 2021) and FPT (up 24.5 per cent on-year). Hoa Phat Group also increased by 68 per cent compared to the previous year.

In the real estate sector, the brand value of Vinhomes in 2022 is $2.38 million, up 99 per cent. This is the fastest-growing brand in the top 10 most valuable brands in Vietnam.

Notably, there are four new entrants in the rankings, including Nam Long (ranked 34), Vinacomin (ranked 43), Chin-Su (ranked 44), and Masan Consumer (ranked 45).