The national brand of Vietnam has been valued at US$319 billion for this year by Brand Finance, a sharp increase of 29% in comparison to the previous year, thereby becoming the fastest growing national brand in the world. 

The information was unveiled in a report on National Brands 2020 released by Brand Finance, the UK’s leading independent brand valuation and strategy consultancy.

This year’s report of the world’s 100 most valuable brands indicates that Vietnam has climbed nine places from last year’s rankings to 33rd in the world.

The UK consultancy firm details how the country has recorded staggeringly low numbers of novel coronavirus (COVID-19) cases and deaths, a factor which has allowed it to emerge as one of the leading locations in Southeast Asia in terms of manufacturing. Indeed, Vietnam has become an increasingly attractive destination for foreign investors, particularly from the United States who are keen to relocate their production lines from China in the wake of the ongoing US-China trade war.

Furthermore, the recent free trade agreement  signed with the EU looks set to support the country’s growth moving forward, making Vietnam become the fastest-growing national brand in this year’s rankings, according to the Brand Finance report.

At the top of the list, the US remains the world’s most valuable brand at US$23.7 trillion, followed by China and Japan.