Thai companies look for franchise partners in Vietnam

HCM City (VNA) – More than 40 Thai businesses introduced their products to some 100 domestic firms at an event in Ho Chi Minh City on November 25 with the aim of seeking franchisees.

Thai brands offered for franchising at the trade exchange were mostly in beverage, fast food, health and beauty care services, education, car maintenance and printing.

Pitinun Samanvorawong, Director of the trade office at the Thai Consulate General in HCM City, said the function was a good chance for Thai franchisers to meet and share information with local companies and investors.

Through franchising, her country hopes to bring quality and safe products to Vietnamese consumers while strengthening cooperation between the two countries, she added.

Tanisak Ingkakittisak, a representative of the brand Rama Meatball, said Thai enterprises anticipate higher demand for food and services in Vietnam in the near future. Similarities in culinary culture between the two countries will also help Thai brands be easily accepted. Notably, HCM City has a young and dynamic population who will be frequent customers of food and fast food restaurants.

Bui Thi Thanh An, Deputy Director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, said Vietnam is a potential destination for franchise companies thanks to its open policies and laws, a dynamic business circle, and a large number of consumers.

The local franchising market is set to become more vibrant with the presence of an array of global brands, she said, noting that nearly 150 international brands have been successfully franchised in Vietnam.

The appearance of foreign brands offer more opportunities for consumers to access high-quality goods and services while creating an attractive investment channel for enterprises. The growth of franchising will also fuel domestic firms’ efforts to reform technology and business strategy and improve product quality, An added.-VNA