A list of the 100 most valuable brands of Vietnam in 2024 was announced in Ho Chi Minh City on October 11.

The event was organized by Consultancy Vietnam Brand Purpose and global consultancy Brand Finance.

Viettel has retained its title as the most valuable brand of the country for the 9th consecutive year, with a value of $8.9 billion. It was followed by Vinamilk and VNPT, each with $2.6 billion.

GELEX, Vietjet, VPBank, Vietinbank, PNJ, and Vinhomes were among other most valuable local brands.

This year’s Brand Finance Vietnam 100 Report was also released at the event to provide a comprehensive information of the valuations.

Vietnam was the fastest-growing brand in the world, with its value surging 102% during 2019-2023 to $498.13 billion last year. It currently ranks 33rd out of 121 in terms of strongest national brand.

Ms. Nguyen Thanh Giang, CEO of Vietnam Brand Purpose, as quoted by the Vietnam News, said with the economy facing numerous challenges, global uncertainties and tough competition from international brands, this report could help businesses improve their investment attraction and reinforce their competitive advantages.

Meanwhile, according to the English language newspaper, Ms.Tran Thi Kim Phuong, director of FPT Software Ho Chi Minh, shared that a brand not only contributes to increasing the value of a business but also helps the company capture international markets. “Specifically, one of the key factors that has enabled FPT to assert its capabilities, position, and brand value in both the domestic and foreign is its pioneer role in technology trends, its continuous expansion in scale and market presence, and its effective communication of the brand message to consumers,” she said.

Mr. Alex Haigh, managing director of Brand Finance Asia-Pacific, was also quoted by the newspaper as saying that brand story communication played an increasingly important role in enhancing a business’s brand value and market share but it must be done regularly to ensure familiarity among customers and gain the trust of buyers and other business partners through consistent and transparent messages.

If brand story building is linked with local culture or resources, businesses can contribute to positioning the country’s national brand on the global map, and this could encourage other domestic brands to grow, according to Mr. Haigh.

Vietnam Brand Purpose and Brand Finance are working together to deploy measures that elevate Vietnamese brands in both the domestic and foreign markets, he added.