With a population of over 90 million (65% of whom are under 35 years old), a fast growing per capita income, and a very dynamic emerging consumer class with a strong preference for foreign brands, Vietnam has emerged as one of the most attractive countries in Asia for franchisors seeking to expand their business. The Vietnamese market has become even more enticing since the country joined the World Trade Organization in 2007.

Even though franchising in Vietnam is still in its infancy, franchising activities have steadily increased since the adoption of the Commercial Law in 2005, which, for the first time, provided a legal framework for franchising. Despite the global economic slowdown, there has been a high level of interest from international franchisors in recent years. According to the state authority in charge of the management of franchise activities, the Ministry of Industry and Trade, as of January 2016, there were over 130 foreign franchisors registered in Vietnam. The dominant business sectors are food service, retail, education, and entertainment, with food and beverage franchises accounting for 30% of the registered franchises.