According to Forbes Vietnam magazine, Vietnam’s top 10 brands in 2020 are worth $8.1 billion USD this year, an increase of 17% from 2019. Forbes announced its annual list of Vietnam’s top 50 brands, and this year, the value of these brands rose by 22% to $12.6 billion USD.
Forbes ranked the following three companies as Vietnam’s top brands.
#1 – Viettel, the country’s leading telecom company, has a brand value of $2.9 billion
#2 - Vinamilk, the country’s biggest dairy company, has a brand value of $2.4 billion
#3 – VNPT Telecom, another of the country’s telecos has a brand value of $509 million
Other top 10 Vietnam brands include FPT Telecom, Masan Consumer, MobiFone, Sabeco, Vietcombank, Vinhomes and Vincom Retail.
Forbes Vietnam’s ranks are classified by industry and most of the companies on its list have been operating for 10 or more years. As in previous years, the food and beverage and financial services industries continue to dominate the list with nine companies each, followed by real estate, IT, and retail companies.
The Forbes Vietnam list follows the methodology of Forbes USA, and calculates the contribution of the brands in their business performance. The most valuable brands achieved a large turnover in the industries where the brands play a leading role.
After making a preliminary list of more than 100 strong brands with high coverage and consumer awareness, Forbes Vietnam calculated their list based on the financial statements of the company along with before-tax income and interest, and the value of intangible assets.
The final brand value is determined based upon the above criteria and industry average price-earnings ratio (P/E). For unlisted companies, Forbes applies a comparative approach to listed companies in the same industry and the same size to determine brand value.
In discussing its rankings, Forbes Vietnam stated that public companies account for a large proportion of its final list since there is not enough information to determine the brand value of the largest State-owned companies, as well as several large private enterprises that do not disclosed their financial data and results.