The influences of WTO accession on Vietnam’s franchise regulations

Abstract

To comply with WTO accession requirements, Vietnam has comprehensively modernised its commercial legal framework. In the preparatory process to WTO accession, a number of commercial activities, especially franchising activity, were firstly defined as the essence by indirect or direct regulations in order to create legal frameworks for their development. In 2005, franchising was regulated by the 2005 Commercial Law as part of Vietnam’s extensive law modernisation process preparatory to WTO accession. It was then regulated in details by some decrees, circulars and decisions which make Vietnam become one of about 30 countries with specialised legal provisions on franchising. The law reform required by WTO accession has also led to the issuance of series of important laws related to commerce (such as Civil Code 2005, Law on Intellecture Property 2005, Competition Law 2004, Commercial Law 2005, etc) which contribute to the creation of a more favourable legal framework for franchising in Vietnam.