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To boost bilateral business ties, the Indian Small Business & Franchise Association (ISFA) and the Vietnam Franchising & Licensing Network (VFLN) have signed a strategic Memorandum of Understanding (MoU) to foster franchise development and empower Micro, Small, and Medium Enterprises (MSMEs) in both countries.
The MoU was signed by Gaurav Marya, Chairman of ISFA, and Mdm. Nguyen Phi Van, Chairwoman of VFLN, marking the beginning of a robust partnership aimed at unlocking new economic opportunities and encouraging cross-border business expansion between India and Vietnam.
The agreement provides a structured framework to facilitate trade, innovation, and knowledge exchange between Indian and Vietnamese entrepreneurs. By enabling MSMEs and franchise brands to enter each other's markets, this collaboration opens new channels for investment, market exploration, and growth acceleration.
The key areas of collaboration include franchise development by promoting opportunities specifically tailored for MSMEs, with an emphasis on scalable and sustainable business models. The partnership will also focus on capacity building through joint training programs, workshops, and webinars aimed at enhancing both entrepreneurial and operational competencies. In terms of market access, the collaboration seeks to provide Indian brands with entry points into the Vietnamese market and vice versa, through curated networking platforms, business matchmaking, and B2B engagements. Additionally, there will be a strong focus on information exchange, including the sharing of market research, economic and retail sector profiles, franchise data, and successful case studies. Lastly, the initiative will foster business networking by enabling MSMEs and franchisors from both countries to connect, collaborate, and co-create value through digital and in-person forums.
“This collaboration with VFLN reflects our mission to globalize Indian MSMEs through meaningful partnerships. Vietnam is an emerging and dynamic market, and this MoU is a stepping stone towards greater economic synergy between our nations,” said Mr. Gaurav Marya, Chairman of ISFA.
“Vietnam and India share strong business potential. Through this MoU, we aim to create an ecosystem where brands, entrepreneurs, and small businesses can scale internationally with confidence,” added Mdm. Nguyen Phi Van, Chairwoman of VFLN.
Importantly, the MoU does not involve any financial commitments. Instead, both ISFA and VFLN have agreed to independently bear the costs associated with their participation in collaborative activities. This structure ensures flexibility, mutual respect, and voluntary participation—while focusing on high-impact outcomes.
The agreement includes a commitment to intellectual property protection, ensuring that logos, trademarks, and proprietary content of both organizations are respected and not used without prior consent. The MoU will remain in effect for a period of five years, with scope for renewal and strategic expansion as needed.
