Vietnam’s national brand value skyrocketed 102 percent in 2019-23, the fastest in the world, the Vietnamese Ministry of Industry and Trade said, citing a report by the UK’s brand valuation consultancy Brand Finance.

The Vietnamese national brand was valued at US$247 billion in 2019 but the figure soared to $498.13 billion last year.

The country reported an annual double-digit growth pace in its national brand value.

The Southeast Asian country ranked 33rd out of the 121 countries and territories in terms of brand value in 2023, up one notch from the preceding year's position.

Vietnamese telecom brands, valued at $13.2 billion, accounted for some 31 percent of the total value of the top 100 brands in Vietnam last year.

Viettel, VinaPhone, and MobiFone had their value set at $8.9 billion, $800 million, $800 million, respectively. They made up 79 percent of the value of the five biggest Vietnamese telecom brands.

Telecom brands were followed by banking names with a combined value of $12.5 billion, accounting for 30 percent of the total value of Vietnam’s top 100 brands.

Four state-run banks – Vietcombank, Agribank, BIDV, and Vietinbank – made up 81 percent of the value of the five most valuable Vietnamese banking brands.

Food and beverage brands ranked third among the country’s most valuable with a 14-percent proportion.

These brands, collectively valued at $6 billion, saw a significant contribution of $3 billion from dairy giant Vinamilk.

Vietnam's top brands have made substantial progress in their brand growth in accordance with global trends, the Ministry of Industry and Trade said.

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