Ten Singaporean brand owners will look for partners at a franchise conference in Ho Chi Minh City next month, according to a press briefing on Thursday.
The companies include food and beverage franchisers Pasta Mania and 3-Monkeys Café, lifestyle franchisers Kooshi, Animaland, and Be Me Shoes, said Hsien Naidu, founder and director of Singapore-based Astreem Corporation.
Astreem and VietCham Expo will hold the event, the 2010 Franchise Vietnam Conference, in the city on April 9. Astreem is a consulting company and a strategic partner with the Franchising and Licensing Association of Singapore, while VietCham Expo is an exhibition service company under the Vietnam Chamber of Commerce and Industry.
"This is the first time these companies will come to Vietnam for franchise expansion. They are interested in any individual, businesses owner or company in Vietnam with capacity to do business with them," Naidu said.
"The rapid economic development and the young and dynamic consumers are the main reasons Singaporean firms are seeking franchises on the local market. It is expected that franchises in Vietnam will grow rapidly," she said.
Vietnam has a population of 86 million people with 65 percent younger than 35 years old, a segment that is highly receptive to modern offerings, said T. Chandroo, vice chairman of the Franchising and Licensing Association of Singapore.
The organizers said the conference will have two sessions. Individuals interested in setting up their own business can learn about franchise investment at the morning seminar and explore established brands from Singapore that are ready to enter the Vietnam market at the Master Franchise Showcase in the afternoon.
In Vietnam, around 100 international brands currently operate under franchise pacts with local partners.