The explosive growth of beverage brands, especially milk tea in Vietnam, proves the attractiveness of a market of one hundred million people and is a result of franchising business activities.
Following its success in previous years, the Vietnam International Retail Tech and Franchise Show will see its 11th edition organised in Ho Chi Minh City this week.
The International Franchise Association ranked Vietnam eighth out of the 12 most valuable markets for global expansion, according to Nguyen Phi Van, chairwoman of Retail & Franchise Asia.
Kids Corporation, a pre-school education company in Japan, wants to enter Vietnamese market, targeting high-income families who are willing to pay more for their children to get the Japanese-style education.
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.
More than 150 Thai businesses are showcasing their best products at the annual fair Top Thai Brands 2017 that kicked off in Ho Chi Minh City on May 11.
About 200 brands have been franchised in Vietnam over the last decade, but the franchise of Vietnamese brands is just in the initial stage at present, insiders said at a workshop in Ho Chi Minh City on May 4.
Vietnam is showing huge potential for franchising, with dozens of franchises having been established and more new brands expected to enter the market in the next five to 10 years.