28 Sept 2017
VIETNAM: Franchise Registration Set to be Abolished as Government Cuts 675 Investment Requirements
Overseas companies will no longer be required to register their franchising operations with Vietnam’s Ministry of Industry and Trade (MOIT) prior to granting franchising rights to Vietnamese franchisees. The franchise registration requirement, which is expected to be waived by June 2018, is key among hundreds of business conditions that are set to be abolished that the Vietnamese government embarks on streamlining the country’s investment-related procedures.
Other business conditions that are set to be repealed include procedures related to investment in oil and gas, electricity generation, logistics, industrial explosives, and production of alcohol and cigarettes. The MOIT has claimed that the announced cuts represent 55.5% of all existing investment-related administrative procedures in the country. The government expects this latest tranche of administrative reform to boost the ease of doing business in Vietnam, and make the country more attractive for prospective overseas investors.