Why Vinamilk Tops Forbes Vietnam’s 2025 List of Leading Brands

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Mr. Nguyễn Quốc Khánh – Executive Director of Research & Development at Vinamilk receives the award for Top 50 Best-Listed Companies in Vietnam – Photo: Forbes Vietnam

Additionally, Vinamilk was honored in Forbes Vietnam’s "Top 50 Best-Listed Companies in Vietnam" for the 13th consecutive year—a record in the food and beverage sector.

The awards were presented at the “25 Leading Listed Brands” ceremony held as part of Forbes Vietnam’s 2025 Brand Conference. This marks the tenth year that Forbes has published its annual brand ranking. The 2025 list focuses on enterprises in the manufacturing and service sectors—key pillars in the nation’s sustainable growth strategy. In its tenth edition, the list reflects the evolution of Vietnamese brands, from legacy names to emerging players expanding globally.

According to Forbes Vietnam, the total brand value of the 25 companies on the 2025 list reached USD 7.13 billion, up 34.5% from the previous year. The food and beverage sector accounted for a significant share. Vinamilk maintained its lead with the highest brand value, nearly double that of the second-ranked company and far ahead of many large corporations.

Thanks to its strong momentum and sustained leadership, Vinamilk continues to be recognized as a national brand icon, contributing to the global profile of Vietnamese enterprises.

Forbes Vietnam’s Top 50 Best-Listed Companies is based on a rigorous multi-round evaluation process with strict criteria, including profitability in 2025, a minimum revenue and market capitalization of VND 500 billion, and metrics such as compound growth rates in revenue and profit, Return on Equity (ROE), and Return on Invested Capital (ROIC). The evaluation used audited consolidated financial statements for 2025.

Vinamilk, the national brand, holds the No. 1 position in Vietnam and continues to expand globally – Photo: Vi Nam

In addition to financial data, Forbes Vietnam also conducted qualitative assessments to measure business sustainability, market position, sources of profitability, corporate governance quality, and industry outlook.

The 13th edition of the Top 50 Best-Listed Companies highlights notable changes in Vietnam’s post-downturn business landscape, with 14 changes from the previous year’s list—four companies making their debut and eight returning after an absence. The combined revenue of the 50 companies exceeded VND 1.567 quadrillion (approx. USD 59.7 billion), up 20.8% year-on-year, while total post-tax profit surpassed VND 207 trillion (approx. USD 7.9 billion), up 8.5%, signaling a strong recovery after a slowdown in 2024.

These achievements further solidify Vinamilk’s leading industry position and demonstrate its strong competitiveness across all dimensions, meeting Forbes’ global standards for top listed companies.

Over nearly 50 years, Vinamilk has not only retained its No. 1 position in Vietnam but also expanded globally. Since beginning exports in 1997, Vinamilk products have entered 65 countries and territories, with cumulative export revenues exceeding USD 3.4 billion.

According to Brand Finance, a leading global brand valuation firm, Vinamilk is ranked the No. 1 Most Valuable Dairy Brand Worldwide (Potential Category) with the highest AAA+ rating. It is also the only Southeast Asian representative in the global Top 10 Most Valuable Dairy Brands, helping Vietnam's dairy sector rank fifth globally in brand value.

Vinamilk’s impressive business performance, strategic investments in science and technology, and commitment to green and sustainable development have earned it a double honor from Forbes Vietnam in 2025: Leading the Top 25 Brands and securing a spot in the Top 50 Best-Listed Companies.

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