Brand Finance logo

Vietnamese brands benefit from massive surge in value in post-pandemic world

21 September 2022
  • Viettel is Vietnam’s most valuable brand at US$8.8 billion
  • VNPT (US$2.9 billion) and Vinamilk (US$2.8 billion) are 2nd and 3rd most valuable
  • Telecoms, banking, and food sectors contribute the most value to the ranking
  • MB Bank is the strongest Vietnamese brand with a Brand Strength Index (BSI) score of 87.1 and brand rating of AAA

View the full Brand Finance Vietnam 50 2022 report here

Viettel is Vietnam’s most valuable brand at US$8.8 billion

Viettel (brand value up 44% to US$8.8 billion) is the most valuable Vietnamese brand, according to a new report from leading brand valuation consultancy, Brand Finance. Viettel has retained the crown of the most valuable Vietnamese brand for the fourth consecutive year, ahead of second-ranked VNPT (brand value up 4% to US$2.9 billion) and Vinamilk (brand value up 18% to US$2.8 billion).

Every year Brand Finance puts thousands of the world’s top brands to the test, evaluating which are the most valuable and strongest. Brand Finance has just released its annual Brand Finance Vietnam 50 2022 report, showcasing the top 50 most valuable and strongest Vietnamese brands.

Viettel projects a strong corporate emphasis on environmental sustainability and urban biodiversity as is evident throughout its corporate headquarters. Viettel Global, a subsidiary of telco Viettel and one of Vietnam's biggest overseas investors, reported a record-high quarterly revenue of US$237 million in Q1 of this year, up 17% year-on-year. The African region, Southeast Asia and Latin America all remain a significant driver of Viettel’s global growth.

Lai Tien Manh, Country Representative, Brand Finance Vietnam said:

“The pandemic brought many challenges to Vietnamese brands but at the same time it also bought with it opportunities and a renewed sense of brand purpose. We observed the actions of many local Vietnamese brands as they stepped up to support the Government during this time of crisis.”

VNPT (US$2.9 billion) and Vinamilk (US$2.8 billion) are 2nd and 3rd most valuable

Behind Viettel, another telecoms brand, VNPT (brand value up 4% to US$2.9 billion), remains the second most valuable brand. In the last five years, VNPT has increased both brand value and in brand strength. VNPT has ranked second in the national ranking for four consecutive years and in the top three since 2017. In recent years, the brand has been signing agreements with the Vietnamese government and other partners to improve connectivity and 5G mobile access in the country.

Vinamilk (brand value up 18% to US$2.8 billion) ranks third in brand value with an 18% growth in brand value this year. Vinamilk has ranked third for four consecutive years and as the most valuable food brand in Vietnam, it continues to make constant efforts to conquer international markets, approaching its goal to be positioned as one of the 50 biggest dairy brands worldwide.

Vietnam’s top 50 most valuable brands have increased in brand value by 36%

Vietnam’s top 50 brands achieved an aggregate increase in brand value of 36% year-on-year. Despite the negative consequences of COVID-19, the nation’s biggest brands were able to deliver commendable results and brand value growth. Since the Vietnamese economy is dependent on exports to nations including USA, China and Japan, supply chain issues continue to affect the growth of Vietnamese brands.

Over the course of the pandemic, the nation’s ability to export to key destinations increased and was able to recover with growth in brand values across the ranking. The top ten Vietnamese brands are worth US$24.4 billion this year, accounting for 67% of the US$36.4 billion of the top fifty Vietnamese brands. There are four new entrants in the ranking that reflect stronger brand values across the ranking. The four new entrants in the ranking are: Nam Long (brand value US$164 million), Vinacomin (brand value up 97% to US$83 million), Chin-Su (brand value up 97% to US$68 million), and Masan Consumer (brand value up 84% to US$66 million).

Alex Haigh, Managing Director Brand Finance Asia Pacific, commented:

“Despite the pandemic, Vietnam has maintained its economic stability and is rapidly developing with the help of technology. However, to continue to grow in brand value and help the country move from being product-oriented to marketing and brand oriented, Vietnamese brands need to be open to change, react quickly, diversify and become more visible. In this way they would be better positioned to all stakeholders.”

Telecoms, banking, and food sectors contribute the most value to the ranking.

The four telecoms brands – Viettel, VNPT, Vinaphone (brand value up 11% to US$859 million) and Mobifone (brand value down 21% to US$661 million) have a sum total brand value of US$13.1 billion and compromise the largest economic sector by brand value. The banking sector follows with US$8.5 billion in brand value from twelve brands, with the food sector being the third-most valuable sector (US$3.5 billion from seven brands).

MB Bank is the strongest Vietnamese brand with a Brand Strength Index (BSI) score of 87.1 and brand rating of AAA.

In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in more than 35 countries and across nearly 30 sectors.

According to these criteria, MBBank (brand value more than doubled to US$642 million) is Vietnam’s strongest brand, with a Brand Strength Index (BSI) of 87.1 out of 100 and a corresponding AAA brand strength rating.

brand va

View the full Brand Finance Vietnamese 50 2022 report here


Note to Editors

Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across all sectors and countries. The world’s top 50 most valuable and strongest brands of Vietnam are included in the Brand Finance Vietnam 50 2022 ranking.

Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors.

The full ranking, additional insights, charts, more information about the methodology, and definitions of key terms are available in the Brand Finance Vietnam 50 2022 report.

Media Contacts

Michael Josem
Associate Communications Director
Brand Finance
Ed Will
Group Marketing & Communications Director
Brand Finance

About Brand Finance          

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance is a regulated accountancy firm, leading the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671, and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.


Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

Get in Touch