Opportunities for Malaysian franchises in Vietnam, says MFA

There are opportunities for Malaysian franchises in Vietnam which is expected to experience double-digit growth until 2012, according to the Malaysian Franchise Association (MFA).

There are opportunities for Malaysian franchises in Vietnam which is expected to experience double-digit growth until 2012, according to the Malaysian Franchise Association (MFA).

Vietnam’s franchise market is untapped because there are not many franchise brands in the country except for major ones like Kentucky Fried Chicken and Pizza Hut and few brands understand the local needs and taste, said MFA chief executive Sofia Leong Abdullah.

“There is a great potential in Vietnam for Malaysian brands because we can adapt to their culture very easily and we understand their habits as we are also from the Asean region,” she told reporters after the association’s Franchise Breakfast Talk here Wednesday.

Sofia said the market in Vietnam remained untapped because though the people there have money to invest in business, the franchising system is still new to them.

“If we can bring them brands from Malaysia, they will be interested because these are considered international brands to them,” she said.

According to her, education is the sector that MFA sees the biggest potential with English learning programmes as one of the segments that Malaysian brands can tap into.

The breakfast talk was organised by MFA with the cooperation of the Domestic Trade, Cooperative and Consumerism Ministry and Perbadanan Nasional Bhd. Also present was Malaysia External Trade Development Corporation (Matrade) deputy director of service section, Roseliah Taha.

It was aimed at promoting Matrade’s Vietnam International Shop and Franchise Show 2010 trade mission and business opportunities in Vietnam.

Asked about the trade mission, Sofia said MFA is targeting to bring seven or eight local franchisors to Vietnam to publicise their brands.

She said that Vietnam marked the last trade mission involving the MFA this year and the association planned trips to Indonesia and China next year.

Currently, MFA has more than 500 members comprising franchisors, franchisees and overseas members as well as supporting institutions such as finance institutions, consultants and student members.- Bernama

Tags: franchises in Vietnam