Many Thai businesses gathered in Ho Chi Minh City on May 28 for a forum on franchises between the two countries, in the hope of seeking partners in the market of 90 million people.
Many Thai businesses gathered in Ho Chi Minh City on May 28 for a forumon franchises between the two countries, in the hope of seeking partnersin the market of 90 million people.
Sompong Nopsuvan, from theThai Ministry’s Business Development Department and head of the Thaimission, said the Thai companies at the forum mainly operate in theareas of food and beverage, health, education and training, services andrestaurants.
Apart from directly meeting with Vietnamesebusinesses, they hope to learn about the market and share experience andseek cooperation opportunities in the field.
According to theVietnam Ministry of Industry and Trade, over 120 internationaltrademarks had, by April this year, registered franchises in Vietnam.They obtained annual growth of over 30 percent to more than 30 millionUSD in revenues.
Vo Tan Thanh, Director of the Vietnam Chamber ofCommerce and Industry’s HCM City chapter, said that franchises inVietnam are attractive to both domestic and foreign businesses. Thepresence of foreign trademarks offers opportunities for local consumersto access goods and services while creating pressures to domesticproducers and businesses that force them renovate to meet the people’sincreasing demand.-VNA
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
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