The move of a Chinese businesswoman into Vietnam’s snack market

DNHN - Recognizing Vietnam’s market potential, Chinese entrepreneur Liu Gengyan aims to develop a professional and distinctive snack store chain in the country.

In recent years, Vietnam has witnessed the rapid growth of snack store chains, mirroring a trend that previously surged in China. With its young population, high consumer demand, and openness to international cuisine, Vietnam has become an attractive destination for foreign businesses.  

Seizing this opportunity, Liu Gengyan, Chairwoman of Shan Ye Zong Xiong Co., Ltd., has decided to bring over 200 Chinese snack brands to Vietnam, establishing a structured and professional retail chain. With more than 20 years of industry experience, she not only introduces high-quality products but also applies China’s successful snack chain business model to the Vietnamese market.  

In addition to running her business, Liu Gengyan also serves as the Chairwoman of IWEC in China and leads a delegation of Chinese entrepreneurs to Vietnam for business networking—part of the Women Entrepreneurs in the Era of National Advancement Economic Forum held on March 12. In an exclusive interview with Business & Integration Magazine, she shared her entrepreneurial journey, insights on the Vietnamese market, and her aspirations for long-term cooperation between the two countries.  

Reporter: What inspired you to launch a snack store chain in Vietnam, and how has your business journey unfolded in this market?  

Ms. Liu Gengyan: A few years ago, China’s snack food business experienced explosive growth, becoming a major trend. When I visited Vietnam, I saw similarities to China at that time, which inspired me to plan the expansion of a Chinese snack store chain here.  

Vietnam’s market shows strong demand for this sector, and its development conditions align well with my experience and resources. I bring 20 years of business expertise from China to Vietnam, aiming not only to introduce leading Chinese snack brands but also to implement a proven operational model. Most importantly, I come here with sincerity and a desire to bring joy to people through high-quality products.  

After my first 100 days of direct business operations in Vietnam, I am even more convinced of the market’s potential and opportunities. Vietnam is one of the safest and most promising markets in Southeast Asia. I have also felt the sincerity and kindness of the Vietnamese people, reinforcing my confidence in expanding my business here.  

In China, the snack chain model has developed extensively, but in Vietnam, this sector still holds great potential. Vietnamese youth, in particular, have a strong passion for snacks, which is why I decided to introduce over 200 Chinese snack brands and establish a professional chain to meet consumer demand.  

Reporter: In a speech on February 17, Chinese President Xi Jinping emphasized the importance of the private sector, urging private enterprises to "maximize their potential" and pledging to improve the business environment. Do you see this as a driving force for private enterprises like yours to expand and enter international markets?  

Ms. Liu Gengyan: China has implemented numerous policies to support private enterprises, especially large-scale chains. Once a business reaches a certain revenue or scale, the government offers tax incentives to facilitate expansion.  

Additionally, large retail chains require substantial warehousing facilities. In China, the government provides support in warehousing and land tax policies, easing cost burdens and enhancing competitiveness. Moreover, administrative procedures have been streamlined under the “one-stop” mechanism, simplifying registration and operations. These measures have created a highly favorable environment for private enterprises like mine to thrive.  

Reporter: With the Chinese government’s support for private enterprises, how do you think entrepreneurship can be further encouraged to make the private sector a key driver of national economic growth?

Ms. Liu Gengyan: I firmly believe that in today’s globalized world, young entrepreneurs must develop strong language skills. Proficiency in foreign languages is not just a communication tool but a gateway to international collaboration. Many Chinese and Vietnamese companies are eager to find suitable partners, yet language barriers remain a significant challenge. If young people can master foreign languages, they will have far more opportunities to connect and cooperate, strengthening their businesses in the global market.  

Moreover, entrepreneurship is not just about having capital or a good product—it requires strategic thinking, perseverance, and adaptability. Successful businesses must understand customer needs, follow trends, and continuously innovate to differentiate themselves. Persistence and flexibility are key to not just surviving but thriving in a highly competitive market.  

Reporter: As a new investor in Vietnam, what is one policy change you would like the Vietnamese government to implement to better support foreign investors?  

Ms. Liu Gengyan: I hope Vietnam can further streamline legal procedures, similar to the "green lane" in customs, which allows for direct and expedited processing. While Vietnam has adopted a one-stop administrative mechanism, businesses still need to interact with multiple agencies to complete investment certification, business licensing, and tax registration. If foreign enterprises could complete these processes more efficiently without excessive bureaucratic hurdles, business operations would improve significantly, and the number of investors in Vietnam would likely increase.  

Currently, many Chinese enterprises are exploring the Vietnamese market, but some ultimately decide against investing due to procedural complexities. If the “one-stop” policy is effectively implemented, I believe more companies will reconsider, contributing to Vietnam’s economic growth.  

Reporter: Regarding IWEC, besides managing your snack store chain, you also serve as Chairwoman of the International Women's Entrepreneurial Council (IWEC) in China and lead a delegation of Chinese entrepreneurs to Vietnam for B2B networking events. What are your expectations for this trip?  

Ms. Liu Gengyan: I sincerely hope that the Chinese businesswomen participating in this trip will achieve tangible outcomes. Our goal is not just to explore the market but, more importantly, to sign concrete cooperation agreements or establish partnerships in Vietnam.

With Vietnam’s open policies and the strong bilateral ties between our two countries, I believe Chinese businesses will find ample opportunities here. This is not just an opportunity for Chinese enterprises but also a driving force for Vietnam’s economic development, fostering mutually beneficial cooperation.

Thank you for the interview!

Bao Bao