Platinum Victory Pte. Ltd, a wholly-owned subsidiary of Singapore-based automotive group Jardine Cycle and Carriage (JC&C), has registered to purchase an additional 14.51 million shares of Vietnam’s largest dairy producer Vinamilk.
According to the Ministry of Investment and Industry (MOIT), 183 foreign brands have been granted a franchise in Vietnam, mostly from the US, Australia, the Republic of Korea (RoK) and the EU.
After spending over US$1 billion on acquiring a large stake in Vinamilk, the largest automotive group from Singapore, Jardine Cycle & Carriage Limited Company (JC&C), has poured VND45 billion into acquiring an additional 1.1 million shares in Refrigeration Electrical Engineering Corporation (REE).
Foreign funds have poured millions of dollars in restaurant chains in Vietnam, where a large population with a growing middle class is expected to provide solid support to the growth of the food and beverages industry.
Franchising has grown into a prevailing investment channel with strong adaptability and a bright growth prospect in Vietnam.
Ranked No. 7 of 101 countries and territories investing in Vietnam for the past five years, the United States has invested more capital in the country through new brands.
When Starbucks opened its first outlet in Vietnam in early 2013, many said the US chain would have a hard job convincing locals to switch from stronger coffee at the simple cafes that line almost every city street and the more sophisticated outlets run by local chains Trung Nguyen and Highlands Coffee.
(VOV) - As a consequence of Vietnam opening its markets in line with World Trade Organisation (WTO) commitments on January 1, 2009, the country has blossomed into a promising market for foreign franchisors.
(VOV) - The US leading fast-food corporation, MacDonald’s has announced that it will have its first franchise store set up in HCM City.