PVOIL Honored as One of the 25 Leading Brands of 2024

The PVOIL brand has been valued at 105 million USD by Forbes Vietnam and is featured in the 2024 List of 25 Leading Brands. The award ceremony took place during the 2024 Brand Conference held recently in Ho Chi Minh City.

 
Ms. Le Thi Thu Huong, Vice President of PVOIL, represented the company in receiving the recognition as a Leading Brand of 2024

PVOIL is the second-largest distributor and retailer of petroleum products in Vietnam, with an estimated market share of 23%. In the downstream sector of the oil and gas industry, PVOIL is the only company involved in all activities, from importing and exporting crude oil, supplying refineries, processing petroleum products, to retail business operations.

With the practical values that the PVOIL brand has brought to its customers, through the business philosophy of "right" and "sufficient," Mr. Cao Hoai Duong, Chairman of PVOIL's Board of Directors, was one of the three speakers in the discussion session "Emotionally Connected Brands" at the 2024 Brand Conference, with the theme "Unique Brands for Success," organized by Forbes Vietnam.

 
Mr. Cao Hoai Duong, Chairman of PVOIL's Board of Directors, participated in the discussion session "Emotionally Connected Brands"

The 2024 List of 25 Leading Brands, compiled by Forbes Vietnam, includes representatives from 12 different industries. The banking sector dominates with 7 representatives, accounting for 28% of the total brands, an increase of one representative compared to the similar list in 2020. Notable are the large state-owned banks, which have grown strong due to their scale, long history, and wide reach, reflecting the sustainable development of the banking sector despite economic fluctuations in recent years. The remaining sectors have one to two representatives each. The total brand value of the 25 companies on the list reaches nearly 5.3 billion USD.

Forbes Vietnam's method of calculating brand value follows a general principle where the company's profit is derived from both tangible and intangible assets. Therefore, the brand of a company contributes to its profit, and this contribution helps determine the company's brand value.

To calculate the brand value, Forbes Vietnam collects financial data from companies listed on three exchanges: HoSE (Ho Chi Minh Stock Exchange), HNX (Hanoi Stock Exchange), and Upcom. With the support of Ho Chi Minh City Securities Corporation (HSC), Forbes Vietnam uses Forbes' proprietary method (from the U.S.) to calculate brand value.