Viettel sole Vietnamese brand in global 500 listing
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Military-run telecom giant Viettel is the only Vietnamese firm in the list of 500 most valuable brands in the world. Valued at $4.32 billion, Viettel’s brand was ranked 478th on the list of 500 most valuable brands in the world for 2019, Brand Finance, a leading global brand valuation consultant, announced at the ongoing World Economic Forum in Davos, Switzerland.
This is the first time a Vietnamese brand has been named in this list.
Accordingly, Viettel’s brand value in 2019 has increased 35.8 percent year over 2018. The telecom giant’s high brand valuation was largely due to its presence and contribution in 10 foreign markets, suggesting the company was internationally competitive.
2018 was a successful year for Viettel in foreign telecommunication sectors, with service revenue growing by 20 percent, mobile subscribers base growing by 70 percent and net cash flow from international operations by $240 million, 3 percent higher compared to 2017.
Brand Finance’s Global 500 list ranks the most valuable brands in the world covering all business fields including telecommunications, technology, automotive, oil and gas. Some big names in the list include Amazon, Apple, Google, Mercedes-Benz, Shell and Telstra.
“Every year Brand Finance conducts an assessment of about 5,000 global brands across 40 different areas on various criteria such as revenue, brand strength, and financial health,” said David Haigh, CEO of Brand Finance.
Out of a total 5,000 global businesses surveyed, there were 500 Southeast Asian businesses, of which only 8 brands made it to the Global 500 list. The listed brands were in three categories: telecommunications, oil and gas, banking.
Questions & Answers
Q.Which organisation compiled the list of 500 most valuable brands and when was it announced?
Which organisation compiled the list of 500 most valuable brands and when was it announced?
Brand Finance, a global brand valuation consultant, compiled the list. They announced it at the World Economic Forum in Davos, Switzerland, for the 2019 ranking.
Q.What factors contributed to Viettel's high brand valuation?
What factors contributed to Viettel's high brand valuation?
Viettel's high brand valuation was primarily due to its presence and contributions in 10 foreign markets. This indicated the company's international competitiveness to the valuers.
Q.How did Viettel's performance in foreign markets contribute to its brand value?
How did Viettel's performance in foreign markets contribute to its brand value?
In 2018, service revenue grew by 20 percent, mobile subscribers by 70 percent, and net cash flow from international operations reached $240 million, which was 3 percent higher than in 2017.
Q.What was Viettel's brand value and its rank on the global list?
What was Viettel's brand value and its rank on the global list?
Viettel's brand was valued at $4.32 billion for 2019. It was ranked 478th on the list of 500 most valuable brands in the world.
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