RM28.1 Million Franchising, Retail Business Identified In Cambodia & Vietnam

via CAAI

KUALA LUMPUR, Nov 18 (Bernama) -- A recent Malaysian delegation to Cambodia and Vietnam has identified RM28.1 million worth of franchising and retail business opportunities in the two countries.

In Cambodia, joint-ventures opportunities were earmarked in retail businesses and franchising for beauty products, body care training centres, education, food and beverage products as well as the distribution of food products, Malaysia External Trade Development Corporation (MATRADE) said in a statement on Thursday.

It said franchise business in body care training centres, food and beverage products, English language education, joint ventures in retail outlets for shoes and handbags as well as the distribution of food products were identified in Vietnam.

MATRADE led a Specialised Marketing Mission on Franchising and Retail Business to Cambodia and Vietnam between Oct 31 and Nov 6, in collaboration with the Ministry of Domestic Trade, Cooperatives and Consumerism, Malaysia Franchise Association and Perbadanan Nasional Bhd.

A total of 25 representatives from 12 companies, government agencies and associations were in Phnom Penh and Ho Chi Minh City to promote Malaysian franchise and retail businesses.

The statement said this was the first mission to promote franchise business to Cambodia and the second to Vietnam.

Meanwhile, Vietnam's 86 million consumers and rapid economic growth has seen growing demand for fast and convenient Western lifestyles.

This is evident by the annual retail sales growth of 23.3 per cent in 2007, 31 per cent in 2008 and 18.6 per cent in 2009 based on figures from Vietnam's General Department of Statistics.