Vinamilk, Viettel top list of biggest brands in Vietnam

• Vinamilk - A Brand Vision

Dairy giant Vinamilk has come out on top in a new list of 50 most valuable brands in Vietnam, surpassing other big state-owned enterprises.

U.K.-based consultancy firm Brand Finance released the list this week, ranking Vinamilk above military-run telecom firm Viettel and oil group PetroVietnam. The dairy company has a brand value of more than $1 billion, according to Brand Finance.

Telecom firm MobiFone and property conglomerate Vinhomes rounded up the top five, which has a combined value of around $3.6 billion, almost equal to the rest of the list.

VinaPhone, the other major player in the telecom market, is also among the top 10, together with brewer Sabeco, food producer Masan, tech giant FPT and VietinBank.

Lai Tien Manh, representative of Brand Finance in Vietnam, said many businesses in the country are not investing enough in protecting and promoting their brands, which are crucial intangible assets.

Manh said Vietnamese businesses need to be better prepared when new free trade agreements, particularly the Trans-Pacific Partnership, come into effect and open up the market to more foreign brands.

The rankings are hardly surprising. Vinamilk is well-known for a diverse portfolio of products ranging from milk and formula to yogurt and ice-cream.

The government currently holds a 45.1 percent stake in Vinamilk, which has for years been one of the country’s most sought-after equities. Officials have recently confirmed their plan to sell shares in the company later this year.