Franchise is becoming a popular business model in the domestic and international food and beverage (F&B) sector.

GS25, a leading convenience store chain in the Republic of Korea operated by GS Retail, recently opened its 300th store in Vietnam, six years after breaking into the Southeast Asian country.

Pho Thin, a renowned family-run pho restaurant in Hanoi for 30 years, has opened its second franchise in Melbourne, Australia after its first in Tokyo in March this year.

The International Franchise Association ranked Vietnam eighth out of the 12 most valuable markets for global expansion, according to Nguyen Phi Van, chairwoman of Retail & Franchise Asia.

The Ministry of Industry and Trade (MoIT) has licensed 17 foreign enterprises specialising in franchises to operate in Vietnam so far this year, according to statistics from the ministry.

The development speed of the franchising market in Vietnam has reached only one fifth of its potential compared to other countries in the region.

The 90-million-strong Vietnamese market is a promising land for famous brands as well as businesses from the region, heard a conference on franchise between Vietnam and the Philippines in Hanoi on June 2.

About 200 brands have been franchised in Vietnam over the last decade, but the franchise of Vietnamese brands is just in the initial stage at present, insiders said at a workshop in Ho Chi Minh City on May 4.

Shareholders of Masan Group have approved a 11 percent cash dividend for 2016 and the remaining 7 trillion VND post-tax profit will be retained entirely.

The Vietnam International Retail and Franchise Exhibition (VIETRF) kicked off in Ho Chi Minh City on November 5, attracting the participation of over 170 businesses from 12 nations and territories.