24 Oct Fri 2014
Get ready, Vietnam's Restaurants Open To 100% Foreign Ownership!
Now is the time for international chains to position themselves. Beginning in January 2015, Vietnam's restaurant business is open to 100 percent foreign ownership. Foreign-invested enterprises (“FIE”) may run their own production and internal logistics network free from limitations. The dreaded Economic Needs Test (“ENT”), still required for large retail stores, may not affect restaurant outlets. Like them or not, the legal conditions required for mass-produced fast food will soon be in place. A shakeup may also occur among already-established restaurants with apparently foreign management. Expect to see international chains, which have been waiting for “100 percent ownership” and full control, to flock to Vietnam.