Delhi, India 23rd May’25 — In a landmark move 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 Mr. 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.
Key Areas of Collaboration Include:
- Franchise Development: Promoting franchise opportunities tailored for MSMEs, with a focus on scalable, sustainable business models.
- Capacity Building: Launching t training programs, workshops, and webinars to enhance entrepreneurial and operational capabilities.
- Market Access: Providing Indian brands a platform to enter Vietnam and vice versa through curated networking, matchmaking, and B2B engagements.
- Information Exchange: Sharing market research, retail and economy sector profiles, franchise data, and success case studies.
- Business Networking: Enabling MSMEs and franchisors to connect, collaborate, and co-create value through in-person and digital business 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.