Forbes lists Vietnam’s most valuable brands, Vinamilk, Viettel remain top

The value is 50 percent up from last year. Dairy giant Vinamilk and military-run telecom firm Viettel remain the top two as they were in the two previous years.

Forbes estimates Vinamilk’s brand value at $2.28 billion, much higher than the $1.7 billion last year, and Viettel’s at $1.39 billion.

State-owned Vietnam Posts and Telecommunications Group (VNPT) takes over third position from Vingroup, Vietnam’s largest real estate company. With a value of $416 million, VNPT makes it to the list for the first time.

The other brands in the top ten are the country’s biggest brewery Sabeco ($393 million), Vinhomes, the residential property arm of Vingroup ($384 million), Vinaphone, one of Vietnam’s big three mobile operators and belonging to VNPT ($308 million), Vingroup ($307.2 million), food and beverages producer Masan Consumer ($238 million), JSC Bank for Foreign Trade of Vietnam, or Vietcombank ($177.9), and tech giant FPT ($169 million).

Vinhomes and Vinaphone are also newcomers.

Just like last year, consumer goods brands account for the majority of this year’s list, followed by finance and banking and technology.

But the gap between the total value of the finance-banking and consumer goods groups has narrowed, Forbes said.

The other new entrants this year are Vincom Retail, the shopping mall subsidiary of Vingroup, top coffee firm Trung Nguyen Group, sugar, energy, real estate, and tourism conglomerate TTC Group, and Ho Chi Minh City Development Joint Stock Commercial Bank, or HD Bank.

Forbes compiled the list by looking at brands’ incomes before and after tax based on their financial reports and data on the stock market.