As many as 150 companies from 10 countries are showcasing their products at the Vietnam International Retail & Franchise Show 2013, which opened in Ho Chi Minh City on October 31.

The three-day event is jointly held by the Vietnam Trade Fair and Advertising Company (Vinexad) and the Korea International Trade Association (KITA), the Korea World Trade Centre (COEX) and the Korea Trade-Investment Promotion Agency (KOTRA).

On display at 250 booths are famous domestic trademarks such as Dalat Milk, Me Trang Coffee, Highlands Coffee, Pho 24, Tous Les Jours and Ong Kim, together with machines, equipment and new technologies for a modern retail industry.

Fifty businesses from the Republic of Korea (RoK) are introducing a variety of high-quality products, including food, fresh fruit, household utensils, garments, jewellery and electronic equipment.

Huyn Ho Ahn, KITA Vice Chairman and CEO, said that Vietnam sees great potential for developing its retail industry, with a young and dynamic workforce.

This event is expected to provide a great chance for business communities to seek partners and sign investment contracts, thus further boosting franchise and retail cooperation between Vietnamese businesses and foreign investors, particularly those from the RoK, he said.

To date, 105 foreign companies have registered to open franchises in Vietnam , mostly in the business of restaurants, fashion shops and convenience stores.

According to Deputy Minister of Trade and Industry Ho Thi Kim Thoa, over recent years, international franchising has helped promote the development of this form of business in Vietnam as well as contributed to creating jobs and increasing incomes.

It may also reduce risks for investors at a time of economic slowdown and limited access to capital, she added.-VNA