Philippine firms interested in brand franchisingin Vietnam hinh anh 1Vietnam is conisdered a promising land for famous brands as well as businesses from the region (Photo: VNA)

HCM City (VNA) – The 90-million-strong Vietnamese market is a promising land for famous brands as well as businesses from the region, heard a conference on franchise between Vietnam and the Philippines in Hanoi on June 2.

According to Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry in Ho Chi Minh City, franchise has increased in Vietnam recently, which has not only brought about investment opportunities for enterprises but also created favourable conditions for consumers to access world prestigious brands.

It has also contributed to creating a diverse and transparent environment, he said, holding that franchise with diverse business forms is suitable for those who wish to launch a startup firm.

Currently, many brand names have operated in the form of franchise, including about 40 percent of catering services.

According to the Ministry of Industry and Trade, about 170 brands have registered as foreign franchises to Vietnam. The field recorded the growth pace of 200 percent each year thanks to Vietnamese consumers’ support to new products and favourable integration policies.

Many brands from developed countries such as the US, the Republic of Korea, Japan, as well as Asian and Southeast Asian countries such as Singapore, Malaysia and the Philippines, have penetrated the Vietnamese market, noted Thanh.

Meanwhile, Noel Servigon, Philippine Ambassador to Vietnam, said that Vietnam and Ho Chi Minh City in particular, is a promising market for franchise.

Philippine firms wish to seek partnership in franchising with Vietnam based on the sound trade relations between the two countries, he said, noting that currently, Jolibee is a successful brand in Vietnam.

The diplomat added that businesses of both countries are dynamic, thus they will find out partnership chances in many areas such as food, beverage and restaurant.

The conference drew many Philippines firms in food, drinking, fashion, service, spa, education and consultancy in the field.-VNA