Brand Finance data reveals Vietnamese brands contribute 12% ($38.1 billion) of ASEAN’s total brand value, led by banking and telecom-driven digital growth
HO CHI MINH, 15th October 2025 – Vietnam’s leading hospitality and resort brand, Vinpearl (brand value at USD204 million) climbed up two spot to achieve the significant milestone of becoming the strongest brand in the region, according to the latest ASEAN 500 2025 report by Brand Finance, the world’s leading brand valuation consultancy.
Vinpearl stands out with a Brand Strength Index (BSI) score of 97.5/100, and an AAA+ brand strength rating based on Brand Finance’s Vietnamese consumer market research. The research in Vietnam highlights Vinpearl’s strong performance, supported by high price acceptance, strong brand awareness, and a solid reputation.
One of Vietnam’s largest and most established financial institutions, Vietcombank (brand value up 16% to USD2.4 billion) ranks as the third strongest brand in ASEAN after going up three ranks compared to the ranking in 2024. It has achieved a BSI score of 95.3/100, and an AAA+ brand strength rating. The financial giant also takes the title of being the fourth strongest banking brand globally.
The brand’s performance is attributed to its high visibility and familiarity, reflecting its market leadership and nationwide presence. According to Brand Finance’s market research, Vietcombank also excels in consumer trust and emotional connection, supported by top-tier digital banking services and customer experience.
A dominant force in Vietnam's telecommunications sector, Viettel Group (brand value at USD7.4 billion) slipped one place to rank fourth among most ASEAN’s valuable brands. The brand’s strong market position is reinforced by its continuous investments in technology and strategic partnerships, helping expand its footprint in the digital economy and maintain leadership in the industry.
The sixth most valuable airline brand in ASEAN this year is Vietjet Air (brand value up 11% to USD417 million). The carrier’s revenue growth is driven by increasing aircraft capacity and a rapidly expanding flight network, now spanning more than 149 routes, including 38 domestic and 111 international. With a modern fleet of over 105 aircraft (including Vietjet Thailand), the airline is pursuing transcontinental expansion while advancing sustainability with new-generation aircraft.
MB (brand value up 87% to USD1.6 billion) stands out as the fastest-growing banking brand among the 80 banking brands in the ASEAN 500 ranking. The bank’s digital-first strategy and expansion into SME and corporate banking have driven this impressive growth.
Vinamilk (brand value at USD2.6 billion) remains as ASEAN’s most valuable food brand, though softer consumption trends and rising competition have weighed on performance. These challenges, both at home and abroad, have dampened investor confidence despite the brand’s strong legacy and market leadership.
Alex Haigh, Managing Director of Brand Finance Asia Pacific, commented:
“Vietnam’s top brands are showcasing how resilience and innovation fuel growth. From Vinpearl’s rise as ASEAN’s strongest brand to Vietcombank, Techcombank and MB’s upward momentum in banking, and Viettel’s leadership in digital connectivity, Vietnam’s brand landscape reflects the country’s accelerating economic transformation and technological strength.”
The 2025 edition of the ASEAN 500 rankings showcase the remarkable brand value growth across Southeast Asia, underscoring a dynamic period of economic transformation, digital innovation, and regional integration. The total brand value of ASEAN stands at USD306.6 billion, reflecting the scale of this collective growth. From the total, top brands from the Vietnam stand at USD38.1 billion (12%) from the total ranking, with a surge among banking and telecom brands underscoring the country’s rapid digital transformation.
Among the top six brand guardians in ASEAN is Tao Duc Thang (CEO of Viettel) who ranked fourth this year. His leadership is defined by a strong focus on the B2B sector, excelling in ‘strategy and vision’, ‘long-term value focus’, and ‘understanding brand and reputation’. Thang also ranks second globally among brand guardians in the telecommunications sector, affirming Viettel’s stature as a leader in digital connectivity and transformation.
Other highlights from the Brand Finance ASEAN 500 2025 report include:
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 make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
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 is a regulated accountancy firm and a committed leader in 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 is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
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.
