Phu My Urea named among Forbes Top 40 valuable brands

Hanoi (VNA) – Phu My Urea, a brand of fertilizer produced by the PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo), was listed in the Top 40 valuable brands in Vietnam voted by Forbes Vietnam.

The brand was ranked 30th with the brand value of 27 million USD and described by Forbes as the country’s leading brand in the fertilizer industry. It is also the only fertilizer brand named in the list.

Phu My Urea currently holds 50 percent of the market of the Mekong Delta, Southeast region, Central Coast and the Central Highlands.

Forbes Vietnam has shortlisted the 40 most valuable brands in Vietnam for the first time. These were selected from more than 300 domestic brands, excluding international brands manufactured locally, with a total value of about 5 billion USD.

The list was led by giant dairy milk producer Vinamilk, followed by military telecom group Viettel in the second place. It also includes private realty group Vingroup, State-owned brewer Sabeco, technology group FPT, Vietinbank, Vietcombank, Masan Group, and flag carrier Vietnam Airlines.

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.

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