With the growth of Vietnam’s economy and population, the country’s pharmaceutical market has become increasingly important. Vietnam is classified by the IQVIA Institute as a “pharmerging” market—a developing country with a relatively low per capita income but strong market growth potential for prescription medication. According to statistics from the Drug Administration of Vietnam (DAV), the sector will continue to see double-digit growth for the next five years, offering many opportunities for development.

International franchises have taken off in the past decade in Vietnam, with signs of some of the world’s most well-known consumer brands lining the streets and shopping centers of major cities. While franchising has become a common form of business in Vietnam, the country’s laws in this area are in a relatively early stage, which can lead to uncertainties for many businesses wishing to operate a franchise system in Vietnam.

In Thailand, many of the world’s most successful franchise models have established themselves to cater to the sophisticated Thai consumer.

Thailand caught the cannabis industry by surprise in January this year when it became the first Asian country to legalise medicinal cannabis, while at the same time restricting foreign participation in the industry for at least the first five years and thwarting cannabis-related patent applications.