Home Economy

Thai firms eye business opportunities

May 30th at 13:24
30-05-2014 13:24:26+07:00

Thai firms eye business opportunities

Franchises are expected to grow strongly in Viet Nam in the coming years, according to the Viet Nam Chamber of Commerce and Industry.

Franchises are popular in the world market but are still new to many Vietnamese companies as they have only developed here in the last five years, Vo Tan Thanh, director of VCCI in HCM City, told a Thailand-Viet Nam business meeting in HCM City yesterday.

According to the Ministry of Industry and Trade, as of April this year, some 120 international brands have registered for franchises in Viet Nam, Thanh said.

"Franchises in Viet Nam have increased by 30 per cent per cent per year in recent years, with annual revenue reaching more than US$30 million," he said.

Doing business under franchises would help reduce business risks, he said.

In addition, Vietnamese firms could learn management experiences from their franchisers, he added.

Sompong Nopsuvan, a representative of the Thai Ministry of Commerce, who led a delegation of 11 Thai businesses coming to Viet Nam to seek franchisees, said with a population of 90 million and cultural similarities to Thailand, Viet Nam was a promising market for Thai firms.

bizhub

MOST READ

NEWS SAME CATEGORY

Viet Nam, US trade to reach $33.6b
ECONOMY May 30th at 13:23

Viet Nam, US trade to reach $33.6b

Bilateral trade between Viet Nam and the United States will probably reach US$33.6 billion in 2014; of this figure, $28.1 billion will come from Vietnamese exports.

Viet Nam welcomes more foreign arrivals
ECONOMY May 30th at 13:22

Viet Nam welcomes more foreign arrivals

Foreign visitors to Viet Nam reached over 670,000 in May, up 21 per cent year-on-year, according to the Viet Nam National Administration of Tourism (VNAT).

S Korea-Mekong links grow
ECONOMY May 30th at 13:21

S Korea-Mekong links grow

Viet Nam has been actively co-operating with countries in Greater Mekong Sub-region (GMS) to develop East-West Economic Corridor, Southern Economic Corridor and...

Statistics show decline in FDI
ECONOMY May 30th at 13:20

Statistics show decline in FDI

Some 500 foreign projects with a total registered capital of US$3.67 billion have been licensed so far this year, a 17 per cent decline in investment year-on-year...

Viet Nam, Peru to strengthen trade
ECONOMY May 29th at 13:18

Viet Nam, Peru to strengthen trade

Viet Nam and Peru plan to widen co-operation in the sectors of agriculture, aquaculture, science and technology, according to Nguyen The Hung, deputy director of...

Central city promotes tourism in S Korea
ECONOMY May 29th at 13:17

Central city promotes tourism in S Korea

The central city has begun a tourism promotion programme at the Korea World Trade Fair in the Coex Exhibition Centre, Seoul, Korea, the city's tourism promotion...

Export processing zones oppose decree on branch locations
ECONOMY May 29th at 10:22

Export processing zones oppose decree on branch locations

Export processing zones (EPZs) in Ho Chi Minh City oppose a new decree that requires companies to locate branches outside the zones, saying it is unnecessary and...

Purchasing power hits the buffers
ECONOMY May 29th at 10:15

Purchasing power hits the buffers

The modest growth of retail sales of goods and services in the first five months of 2014, holding at 6 per cent, suggests that domestic purchasing has not...

Vietnam tourism sector discusses ways to lure back int’l tourists
ECONOMY May 29th at 10:01

Vietnam tourism sector discusses ways to lure back int’l tourists

With international arrivals, mostly from China, slumping over the past month due to tension over an illegal Chinese-owned oil rig placed in Vietnamese waters, local...

Vietnam Jan-May FDI falls 34% yr-on-yr to $5.5bn
ECONOMY May 29th at 09:58

Vietnam Jan-May FDI falls 34% yr-on-yr to $5.5bn

Vietnam drew more than US$5.5 billion in foreign direct investment (FDI) in the first five months of 2014, down over 34 percent from a year earlier, the Foreign...

Read More

MOST READ

Back To Top