Home » Franchise Articles » Franchising taking off in Vietnam
Franchising taking off in Vietnam
Setting up a franchise using domestic and foreign brand names in Vietnam is rapidly growing, according to financial experts.
/Franchise PR News/ - DUBLIN, IRELAND, May 11, 2006 - Recent figures from Vietnam's National Department of Intellectual Property revealed that in 2005 alone, 530 local and international company names were franchised while 811 others were transferred.
This number has been estimated to have increased by an average of 20 per cent annually over the last decade, since the first franchise developments appeared in the early 1990s, reports the Asia Times.
The financial industry has commented on the changing retail world in Vietnam's big cities and a number of companies have benefited from its prominence.
"Franchising is a dynamic business model that has proven effective in Vietnam's market economy," said Dang Le Nguyen Vu, director of the Trung Nguyen Company.
This company has made thousands of dollars through franchising and it has also sold the rights to its trademark to firms in Japan and Singapore for US$800.
Another incentive for people to begin franchises in the country is that at the start of this year, a legal document from the Vietnam government that included the standardisation of franchising regulations came into effect.
Copyright Adfero 2006
Franchise Direct is a comprehensive franchise opportunity directory and information resource.
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com |
|
|
Press Release Contact Information:
Diarmuid Kieran
Franchise Direct
Company
Unit 106, Capel Building, Capel street
Dublin 7, County Dublin
Ireland D7
Voice: 003531 8656370
Website: Visit Our Website |
|
|
|
|
|
|
Advertise With Us |
About Us |
Contact Us