Bangjongjitt Angsusingh, director-general of the Commerce Ministry’s Business Development Department, yesterday witnessed a signing ceremony between Hevta and Ardeco, an advisory company for engineering and architecture in Laos.
She said the franchise agreement reflected the fact that many Thai firms have competency to do business overseas, particularly via franchise systems, as they save costs and are low-risk.
Hevta has been doing business in Thailand for 20 years. It believes franchising should help increase its business growth strongly. So far, Hevta has 12 branches in Thailand.
Wantha Piemphongsuk, managing director of Hevta, said the company also planned to do business with Cambodian and Myanmar firms through franchising as it was convenient and saved cost. Hevta expects to sign a contract with a Cambodian company early next year, and is looking for a partner in Myanmar.
Moreover, Hevta plans to expand into other Asian countries next year, such as Indonesia and India.
Hevta has foreseen greater opportunities to expand in Laos after Asean integration as people there earn higher incomes, while demand for construction is on the rise, Wantha said.