Viettel, for the 9th consecutive year, has retained its title as the most valuable local brand with a value of 8.9 billion USD, followed by Vinamilk and VNPT, both at 2.6 billion USD.

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

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

Vietnam was the fastest-growing brand in the world, with its value surging 102% during 2019-2023 to 498.13 billion USD last year. It currently ranks 33rd out of 121 in terms of strongest national brand.

Nguyen 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.

Tran Thi Kim Phuong, director of FPT Software Ho Chi Minh, said that a brand not only contributes to increasing the value of a business but also helps the company capture international markets. Specifically, one of the key factors that has enabled FPT to assert its capabilities, position, and brand value in both the domestic and foreign is its pioneer role in technology trends, its continuous expansion in scale and market presence, and its effective communication of the brand message to consumers.

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, he added.