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Viettel tops list of 50 most valuable brands

Released at: 12:14, 12/01/2019

Viettel tops list of 50 most valuable brands

Photo: Viettel Group

Brand Finance publishes list of 50 most valuable brands in Vietnam.

by Ngoc Lan

Viettel ranked first on a list of the 50 most valuable brands in Vietnam in 2018 published by Brand Finance on January 10.

The telco giant’s brand was valued at nearly $3.2 billion, an increase of 23.7 per cent compared to 2017 and equal to the total value of brands ranked second and third.

2018 was an important year for Viettel, with the completion of three new industries: electronics and telecommunications, network security, and high-tech defense.

Viettel changed its name to the Military Industry and Telecoms Group and announced it would move to the fourth stage of its development with the goals of globalization and leading Industry 4.0.

2018 was also a successful year for Viettel in expanding its foreign investment in Asia. Mytel, the Viettel brand in Myanmar, has reached nearly 5 million subscribers after just six months of official business, for a market share of more than 10 per cent. Mytel has made Myanmar the fastest growing market of Viettel and its growth is phenomenal in the global telecommunications industry.

Viettel also applied many Industry 4.0 technologies to products and services last year, such as adding Blockchain technology to manage personal health records, applying AI technology to build the software for a vehicle license plate recognition and face recognition system, and applying AI technology to Virtual Assistant products and Chatbot. The technologies brought about efficiencies, realizing Viettel’s strategy in the new development phase of Industry 4.0 and globally.

Viettel also announced a large investment in 5G equipment research and production and is expected to test the technology this year.

In August, the General Department of Taxation under the Ministry of Finance (MoF) ranked Viettel the largest taxpayer in Vietnam; a position it has retained for many years.

Brand Finance is the world’s leading brand valuation organization and based in the UK. In its rankings of the 300 most valuable telecom brands in the world in 2018, Viettel ranked 47th, up one rank compared to 2017.

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