HOW TO OVERCOME THE BARRIES WHEN REGISTERING BRAND FRANCHISE IN VIETNAM

The seminar named “Franchise registration in Vietnam: Difficulties and Solutions” took place at Red Franchise’s HQ (Ho Chi Minh City) on 3rd October 2019. This event is to help the franchisor and franchisee recognize the potential risks that they both could face when deploying a franchise brand that has not been registered legally in Vietnam. Besides offering the solutions which are to resolve the difficulties that both franchisor and franchisee trapped in commercial franchise registration according to the right regulations of Vietnamese law.

Mr. Truong Trong Hieu who is a Master and Ph.D. fellow in law in Japan took the role of this seminar’s keynote speaker. He had detailed answers and analyses focusing on the topic of difficulties and solutions for registering a franchise in Vietnam. In particular, he emphasized that the franchisor has to accept to pay an expense so-called “the cost of law Compliance” to register franchise in the Vietnamese market smoothly and successfully. Here are the binding legal provisions that the franchisor should know before conducting the franchising activities in Vietnam. More particularly, they need to understand clearly the relevant legal regulations. Naturally, this can take so much time, and be a huge challenge for the foreign investors as franchisors, because they are not the Vietnamese citizen.

According to Mr. Truong Trong Hieu’s advice, to overcome this difficulties and challenges, in fact, one of the proper solutions that the foreign franchisors applied is that searching for the professional, in-depth and trust-worthy franchising consultants to help them comprehend more clearly regulations of Vietnamese law and meet its requirements before stepping into the market. Therefore, they can develop their franchise system sustainably in Vietnam at the present and in the future.