Singapore companies see Vietnam as a "hot-spot" for franchise investment, director of Singapore's Astreem Corporation Pte Ltd. Hsien Naidu said at a press conference last week to announce a coming franchise seminar.
Ten Singapore franchise companies in the food, beverage and lifestyle sectors including Pasta Mania, Polar Puffs, 3-Monkeys Cafe, Worldwide Wings, Kooshi, Animal and TTQ Massage would seek franchises in the Vietnamese market in the coming month, he said.
The seminar called Franchise Vietnam 2010 will be held in Ho Chi Minh City on April 9 for franchisers to meet and develop more business here.
It will provide business owners with franchising knowledge and opportunities to expand their businesses locally and across borders. Established brands from Singapore that are ready to enter the Vietnamese market will be represented.
Dr.T.Chandroo, deputy chairman of Singapore's Franchising&Licensing Association and chief executive Officer of Modern Montessori International said Vietnam's population of 86 million, 65 per cent of them under 35, was open to modern services, making it a good opportunity for Singapore franchise companies.
Bui Le Quan from Vietnam Chamber of Commerce and Industry Exhibition Services Ltd.Co. said the Vietnam franchising market was estimated to experience 20-30 per cent growth annually.
Vietnam currently has 100 international brands operating franchising agreements with local partners, according to Quan.
Singapore's franchises eye Vietnam
Singapore companies see Vietnam as a "hot-spot" for franchise investment, director of Singapore's Astreem Corporation Pte Ltd. Hsien Naidu said.
Source: VNS
