Tuesday, 19 Dec 2017
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ECONOMY

Viettel named as best brand value among top 50 Vietnamese brands

Updated at Tuesday, 05 Dec 2017, 17:09
The Hanoitimes - On December 04, Brand Finance, an independent branded business valuation consultancy has released the top 50 Vietnamese Brands 2017, revealing Viettel as the best brand value with 2.5 billion USD.
In 2017, Viettel’s brand value has been triple compared to the Brand Finance’s release on 2016. As such, Viettel contributed 22.8% the total value of top 50 Vietnamese Brands ranked by Brand Finance. The telecommunication sector (including Viettel) also has 35% of total value in the top 50 Vietnamese Brands of Vietnam. 
 
Viettel's brand is valued at 2.5 billion USD by Brand Finance.
Viettel's brand is valued at 2.5 billion USD by Brand Finance.
Previously, Viettel has also been named in the Vietnam report with the highest revenue in the Profit500 list. In the first half of 2017, total revenue of Viettel reached 118 trillion VND, equivalent to 100.1% of plan and profit before tax reached more than 21 trillion VND, equivalent to 101% of plan. In April, Viettel has become the first telecommunication service provider to launch the 4G network in Vietnam. 

With the trend of internet of things, in recent years, Viettel has invested heavily in research & development (R&D), using modern infrastructure and high qualified personnel. Viettel has also developed and efficiently operated the core network system, from the call center, message center, charging to transmission and 4G platform. Currently, Viettel has 340,000 km fiber cable, nearly 36,000 broadcast traffic systems (BTSs), 4G coverage of approx. 95% population with 5 Data centers, biggest scale of cloud computing in Vietnam in accordance with Tier 3 international standard, which ensures the security and is operational at the highest level, along with more than 3,000 engineers working in fields of high technologies, devices manufacturing, software, telecommunication system.
According to the education, Viettel has implemented practical projects, such as software for national examinations, internet for school with the participation of 40,000 schools and educational facilities, which were provided with internet infrastructures for free. In the agricultural sector, Viettel focuses on smart infrastructure such as the automatic watering system, warning system for the quality of water, land and air to improve productivity and reduce multiple risks. 

In the very broadest sense, a brand is the focus for all the expectations and opinions held by customers, staff and other stakeholders about an organization and its products and services. However, when looking at brands as business assets that can be bought, sold and licensed, a more technical definition is required. 

Brand Finance helped craft the internationally recognised standard on Brand Valuation, ISO 10668. This defines a brand as “a marketingrelated intangible asset including, but not limited to, names, terms, signs, symbols, logos and designs, or a combination of these, intended to identify goods, services or entities, or a combination of these, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits/value”.

In order to determine the strength of a brand Brand Finance have developed the Brand Strength Index (BSI). As such, it analyzes marketing investment, brand equity (the goodwill accumulated with customers, staff and other stakeholders) and finally the impact of those on business performance. Following this analysis, each brand is assigned a BSI score out of 100, which is fed into the brand value calculation. Based on the score, each brand in the league table is assigned a rating between AAA+ and D in a format similar to a credit rating. AAA+ brands are exceptionally strong and well managed while a failing brand would be assigned a D grade. 
Ngoc Thuy
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