Vietnam Becomes Fastest Growing National Brand in the World

9:57:43 AM | 29/12/2020

The effort to prevent the Covid-19 pandemic helped Vietnam's national brand value to expand 29% to US$319 billion this year, according to Brand Finance.

Vietnam has become the fastest growing nation brand, with its value skyrocketing 29% to US$319 billion in the latest global Nation Brands 2020 rankings. It climbed nine places from last year to No. 33 in the list of the 100 most valuable brands in the world from No. 42 a year earlier, compiled by Brand Finance, a U.K. consultancy firm.

Vietnam, which has recorded staggeringly low Covid-19 cases and deaths, has emerged as one of the top locations within the Southeast Asian region for manufacturing, and has become an increasingly attractive destination for investors, particularly from the U.S., that are looking to relocate their China operations. Its recent trade agreements with the EU and the UK will also support growth.

Brand Finance said 2020 is a test for all countries in the world due to the adverse impact of Covid-19 pandemic on the forecasts of GDP, inflation and economic instability. In total, the 100 most valuable brands in the world this year lost US$13.1 trillion due to Covid-19.

There was no change in the Top 10 list but their positions slightly reshuffled. The U.S. and China still secured the two top names on the list, with the brand value of more than US$23 trillion and US$18.7 trillion, respectively. Japan increased from the 4th place last year to the 3rd this year. In contrast, Germany fell from No. 3 to No. 4.

All Top 10 brand values declined. Germany contracted most, by 21.5%. Meanwhile, Ireland was the only advancer in the Top 20, rising 11% to US$670 billion.

Brand Finance calculates the national brand value similar to that of businesses. It used brand strength, projected GDP and net present value (NPV) method to produce the final results.

In addition to valuing the national brand, Brand Finance also scores the national brand strength. Germany is the strongest national brand in the world, scoring 84.9 on a 100 scale and an AAA rating.

Brand Finance is an independent brand valuation and strategy consulting firm based in London, the United Kingdom. Established in 1996, Brand Finance is currently operating in more than 20 countries. Every year, Brand Finance publishes many reports and rankings from real estate, telecommunications, toy and football clubs to individual brands of each country.

Source: Vietnam Business Forum