Hanoi (VNA)൩ - Giant dairy milk producer Vinamilk (VNM) leads the list of the 40 most valuable local brands, selected by Forbes Vietnam for the first time.

The magazine announced the list of brands with a total value of about 5 billion USD 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 percent, then banking and financial brands ranked with 20 and 10 percent respectively. After VNM, with a value of 1.52 billion USD, the military telecom group Viettel, which dominates 52 percent of the local telecommunications market, ranked second with a value of 752 million USD. The next positions belong to private realty group Vingroup with a value of 279 million USD and State-owned brewer Sabeco with a value of 247 million USD, then technology FPT group with a value of 171 million USD, and Vietinbank with a value of 147 million USD, Vietcombank with a value of 135 million USD, and Masan Group with a value of 126 million USD, BIDV with a value of 125 million USD and Vietnam Airlines with a value of 78 million USD. Besides the top ten brands mentioned above, Military Commercial Joint Stock Bank (MBB) worth 61.7 million USD, Phu Nhuan Jewelry (PNJ) worth 53 million USD, Vietnam Technological and Commercial Joint Stock Bank worth 39.7 million USD, Sai Gon Thuong Tin Commercial Joint Stock Bank (STB) worth 47.6 million USD, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) worth 37.7 million USD and a Commercial Bank (ACB) worth 25.3 million USD were also in the financial and banking list. In the list, Bao Viet Holdings (BVH) worth 72.8 million USD and PVI Holdings (PVI) worth 66.4 million USD represented the insurance group while Sai Gon Securities Inc (SSI) worth 17.3 million USD and HCM City Securities Corporation (HSC) worth 15.7 million USD represented the securities group. Other firms with strong growth that appeared in the list included Mobile World Group (MWG) worth 77 million USD, Truong Hai Auto (THA) worth 65.4 million USD, Vietjet Air worth 63.4 million USD and Thanh Cong Tourist Joint Stock Company (VNG) worth 35.5 million USD. Together with the brands familiar on the stock exchange, Minh Long Ceramics worth 39.5 million USD, footwear producer Biti’s worth 17.4 million USD and stationery Thien Long worth 13.5 million USD were also selected. According to Forbes Vietnam most of the valuable brands were formed after 1986 under the doi moi (reform) era when VietNam 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 Tan Hiep Phat 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 Do (KDC), Vinacafe Bien Hoa, Vinh Hao Mineral Water JSC were not included because they sold more than 50 percent of stakes to foreign partners.-VNA