Thailand’s Central Plaza Hotel (CENTEL) has announced the dissolution of its Vietnam-based joint venture, ORC Coffee Passion Group Joint Stock Company, owners of coffee chain Amazon Cafe, following approval from the company’s Board of Directors on 25 September 2025 → view source.
The venture, established in partnership with Singapore’s PTTOR International Holdings, saw Central Restaurants Group Vietnam (CRG VN) — an indirect subsidiary of CENTEL — holding a 40 percent equity stake, while SG HoldCo held 60 percent.
CENTEL attributed the dissolution to the highly competitive market environment in Vietnam’s coffee sector, which prompted a strategic reassessment of its regional business focus.
As of 31 August 2025, CENTEL’s investment in ORCG was valued at THB 56 million or about US$1.52 million and had been operating in the country for about five years.
This is the latest in a string of foreign coffee brands that have struggled to gain a foothold in the Vietnamese market – Gloria Jeans and NYDC to name but two — which can be challenging on the back of a deeply entrenched local coffee culture that sees good quality local products available at very low prices.
Specifically, a Vietnamese milk coffee purchased from a street vendor can cost as little as VND 20,000 dong or about US 75 cents.
Learn more about the risks and challenges when opening a cafe in Vietnam →
(US$1 = THB 36.8)