HÀ NỘI – Giant dairy milk producer Vinamilk (VNM) leads the list of the 40 most valuable local brands, selected by Forbes Việt Nam for the first time. The magazine announced the list of brands with a total value of about US$5 billion on June 27, adding that they were selected from more than 300 local brands.

Consumer brands accounted for an overwhelming proportion of the list at 70 per cent, then banking and financial brands ranked with 20 and 10 per cent respectively.

After VNM, with a value of $1.52 billion, the military telecom group Viettel, which dominates 52 per cent of the local telecommunications market, ranked No 2 with a value of $752 million.

The next positions belong to private realty group Vingroup with a value of $279 million and State-owned brewer Sabeco with a value of $247 million, then technology FPT group with a value of $171 million, and Vietinbank with a value of $147 million, Vietcombank with a value of $135 million, and Masan Group with a value of $126 million, BIDV with a value of $125 million and Vietnam Airlines with a value of $78 million.

Besides the top ten brands mentioned above, Military Commercial Joint Stock Bank (MBB) worth $61.7 million, Phú Nhuận Jewelry (PNJ) worth $53 million, Vietnam Technological and Commercial Joint Stock Bank worth $39.7 million, Sài Gòn Thương Tín Commercial Joint Stock Bank (STB) worth $47.6 million, Việt Nam Prosperity Joint Stock Commercial Bank (VPBank) worth $37.7 million and a Commercial Bank (ACB) worth $25.3 million were also in the financial and banking list.

In the list, Bảo Việt Holdings (BVH) worth $72.8 million and PVI Holdings (PVI) worth $66.4 million represented the insurance group while Sài Gòn Securities Inc(SSI) worth $17.3 million and HCM City Securities Corporation (HSC) worth $15.7 million represented the securities group.

Other firms with strong growth that appeared in the list included Mobile World Group (MWG) worth $77 million, Trường Hải Auto (THA) worth $65.4 million, Vietjet Air worth $63.4 million and Thành Công Tourist Joint Stock Company (VNG) worth $35.5 million.

Together with the brands familiar on the stock exchange, Minh Long Ceramics worth $39.5 million, footwear producer Biti’s worth $17.4 million and stationery Thiên Long worth $13.5 million were also selected.

According to Forbes Việt Nam most of the valuable brands were formed after 1986 under the doi moi (reform) era when Viet Nam turned to the open economy under the market mechanisms.

The method of evaluation was to rate how brands contributed to the financial results of the firms. The calculation of the contribution must be based on transparent financial statements.

Therefore, according to local media, famous local brands such as KYMDAN, Eurowindow, Novaland and Tân Hiệp Phát did not have sufficient basis to calculate the value.

Similarly, many state-owned enterprises in the process of equitisation with unpublished financial figures were not taken into consideration either.

Also, firms with brands of over 20 years with good value such as Kinh Đô (KDC), Vinacafe Biên Hòa, Vĩnh Hảo Mineral Water JSC were not included because they sold more than 50 per cent of stakes to foreign partners. VNS