Taiwan External Trade Development Council (TAITRA) and the Association of Chain and Franchise Promotion, Taiwan (ACFPT) is hosting「Franchise, Retail & Hospitality Vietnam 2020」at the Hanoi International Exhibition Center on February 20-22, 2020. The exhibition provides a business platform for global service industry to expand overseas territory and promote characteristic service brands to ASEAN countries. It focuses on chain franchise, shop retail, catering tourism equipment and e-commerce. Act NOW to discover business opportunity in advance of next year.
Vietnam has a population of 97.2 million people with 65% under the age of 30. The capital city Hanoi, growing modern retailing channels makes franchisors easier to find suitable locations. Vietnam also has the fastest growing middle class in ASEAN. The rapid growth of family income also enhancing the purchasing power. Meanwhile, a number of universities in North Vietnam gather in Hanoi. Local residents and foreigners come to work and study, generating high demand for services. The high degree of urbanization and commercialization have inspired growth among consumer services.
As of 1 January 2009, franchises established in Vietnam can be 100% foreign-owned, more chain franchise brands have developed, fast food is popular, catering, education, health care, business services, beauty makeup, medical beauty and entertainment. According to Vietnam’s Ministry of Trade and Industry, in 2018 illustrates that 203 franchise chains have entered the Vietnamese market, 36% in catering, 28% in educational services, and 18% in fashion makeup apparel – all major brands from Europe, America and Asia. In this regard, the shop equipment, hardware, software markets are growing in parallel.
As you may heard Vietnamese people are foodies. Food and beverages account for 35% of monthly consumer expenses. This explains the reason of why we see many popular streets with unique characteristics in Vietnam. For example, north Vietnam has a large tea-drinking population, indeed, the top three handshake beverage brands in Hanoi are from Taiwan. In fact, Ho-Chi-Minh City’s most lively Nguyen Hue Street is coined ‘Pearl Milk Tea’ St. Although pearl milk tea costs more than coffee, young people enjoy it a lot.
The high number of tourists are also vigorously developing Vietnam’s tourism industry and chain franchise brands. According to statistics from Vietnam’s Tourism Bureau, in 2018, 15.49 million international tourists visited Vietnam, up nearly 20% from the previous year. Tourists create more business opportunities in fields such as food, clothing, housing, transportation and entertainment. Mobile phones also speed up the digitalization of tourism industries such as hotels and restaurants, catering tourism equipment and e-commerce development. These spaces should not be underestimated.
「Franchise, Retail & Hospitality Vietnam 2020」For more details, please visit the official website www.franchisevnexpo.com
Media ContactCompany Name: Taiwan External Trade Development Council (TAITRA)Contact Person: Chris LeeEmail: Send EmailPhone: +886-2-2725-5200 #2777Country: TaiwanWebsite: http://www.franchisevnexpo.com/
