Catering named most franchised business in Vietnam
Catering is currently the most franchised business in Vietnam, accounting for 43.7 percent of the recorded franchise deals, according to the Ministry of Industry and Trade’s Domestic Market Department
The Korea Franchise Showcase 2015 workshop (Source :VNA) Forty-two catering brands have been franchised out in the country, including those of fast food, cake, coffee and beverage, the department said at a workshop in Ho Chi Minh City on December 3.
That business is followed by fashion, education, convenience stores and retail stores, the department noted, adding that Vietnam has licensed nearly 140 foreign businesspersons and 150 foreign brands to enter its market since 2007.
Experts said the country is potential for franchising in the restaurant business as well as other fields, citing its abundant and young population and the emergence of the high-income middle class who are trending towards novel, exotic products.
Park Sang Hyup, head of the trade office of the Republic of Korea (RoK)’s Consulate General in HCM City, said his country’s promotion agencies have stepped up assistance to Korean brands to seek franchise opportunities in Vietnam since 2013.
Through franchise promotion, the RoK also aims to popularise its culinary culture far and wide, he noted.
A number of RoK enterprises like Lotteria, CJ Foodville, F&B and Caffe Bene have engaged in franchising in Vietnam with such popular brands as Tour Les Jours and BBQ Chicken.
Park said the growing trade and investment between the two countries have enabled more franchise deals for RoK products and brands in Vietnam.
The business model of franchising, which is popular and relatively successful in the RoK, is mushrooming in the Southeast Asian nation, he noted.
The Vietnam – RoK Free Trade Agreement, ratified by the RoK National Assembly on November 30, is believed to fuel bilateral trade to 70 billion USD in 2015. The deal will open up more opportunities beyond trade and investment up into other spheres, including franchising.-VNA
You should also see
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
See more
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
