The list, recently announced by consultancy Mibrand and Brand Finance, a global brand valuation and strategy company, was headed by Vietnam’s largest telecom company, Viettel. Its brand was valued at $4.32 billion, $1.52 million more than last year.

Other telecom companies Vietnam Post and Telecommunications Group (VNPT), MobiFone and VinaPhone were second ($1.68 billion), sixth ($708 million) and eighth ($553 million) respectively.

The remaining six in order of ranking were top dairy company Vinamilk, real estate corporation Vinhomes, biggest brewer Sabeco, state-owned banks Vietinbank and Bank for Investment and Development of Vietnam (BIDV), and the largest gasoline retailer Petrolimex.

Vietnam's top 50 brands were together worth $18.9 billion, with the top 10 accounting for 68 percent of that.

Telecommunications has the highest industry value at 38 percent, followed by food and banks at 15 percent and 11 percent, respectively.