Country's brand falls 18% in value compared to 2014, while Vinamilk, Viettel, and Vinhomes lead the way in enterprise brand value.
Vietnam’s brand value this year stands at $139.5 billion, ranking it 49th among 100 researched countries, Mr. Samir Dixit, Managing Director of Brand Finance Asia Pacific at Vietnam Brand Matters told a Vietnam Brand Matters conference in Hanoi on October 14.
The figure represents a decline of 18 per cent against 2014, when it was $172 billion and in 42nd position.
Mr. Dixit said that global brand value now totals $7 trillion, an 11 per cent increase compared to last year. “The problems facing Vietnam’s brand are domestic, not global,” he said.
He emphasized that there are many things Vietnam can do better. The tangible value of enterprises’ value in Vietnam is quite high at present, at 62 per cent of the total value, while the ratio around the world is 47 per cent.
The brand value of all Vietnamese enterprises is $67.3 billion, just half of Apple’s value. The value of Vietnam’s 50 best enterprises is about $5.5 billion, or half of just one major Singaporean company’s brand value. Vietnam has no brands in the world’s Top 500 strongest.
The competitiveness of Vietnamese brands remains weak. “Brands in Vietnam are neither contributing to nor benefiting from the country’s brand,” Mr. Dixit stressed.
He also revealed the Top 10 most valuable Vietnamese brands: Vinamilk, Viettel, Vinhomes, MobiFone, PetroVietnam, FPT, Vietinbank, Vinaphone, BIDV, and Vietcombank.
The gap between these brands, he pointed out, is too great. Vinamilk’s brand value is about $1.1 billion, whereas the second-highest, Viettel, has a value of $580 million, followed by Vinhomes with about $343 million.
Local brands in Vietnam face a range of difficulties, Marketing Director of Masan Beverage, Mr. Nguyen Dinh Toan, said at the conference. “Local brands build their brand by sentiment, without conducting proper research, and in the short-term, to seek immediate profit,” he said. International brands in Vietnam, meanwhile, conduct a great deal of research and may even accept a loss for a few years before turning a profit.