Fast food giants such as McDonald’s and Burger King have dominated the sector globally for decades, but unique cuisine culture and uncommon spending behaviours means Vietnam is one of the few countries they are struggling to crack.
Nearly 386,000 books were sold at Ho Chi Minh City’s Duong Sach (or Book Street) in the first half of this year, bringing a revenue of VND20 billion (US$880,000), up 5% annually.
At 8am on a wintery December 2, music blasted out as a crowd of hundreds queued up outside the first McDonald’s restaurant to open in Hanoi.
Fashion, fast food, beverage, cinema and retail brands have been opening more and more stores in Vietnam as the retail sector has seen fast growth in recent years.
According to the Ministry of Investment and Industry (MOIT), 183 foreign brands have been granted a franchise in Vietnam, mostly from the US, Australia, the Republic of Korea (RoK) and the EU.
The world’s leading food service retailer McDonald’s officially opened its first restaurant at 2 Hang Bai Street, Hanoi on December 2, marking its first foray into the northern market three years after opening its first restaurant in Ho Chi Minh City.
After securing a strong footprint in Vietnam’s southern metropolis of Ho Chi Minh City, fast-food giant McDonald’s is looking to consolidate its presence by moving its business to Hanoi. The long-awaited move will take place amidst the on-going expansion of international fast-food brands.
With investments in real estate, finance, and most recently lottery, chairman Vincent Tan showed his ambition to expand Berjaya Corporation’s footprint in Vietnam.
The fast food chains that arrived early in Vietnam have seen growth slow, while the chains which came later seem to have fewer opportunities. The heyday of the fast food sector is over.
VOV.VN -Thestar.com- a largest online news site of Canada on July 11 run a story about how executive producer John Brunton to bring The Amazing Race Canada to Vietnam.
The US economic presence in Vietnam has been increasing steadily since the normalization of Vietnam-US relations since the 1990s. Russia, which was once the largest trade partner of Vietnam, has also returned.
Burger King, a famous fast-food brand, has experienced tough days in the Vietnam market.
Consumers in the Association of Southeast Asian Nations (ASEAN) are tightening their belts during a sluggish economic time by cutting their spending on fast food.
Take-away fast food is booming at the moment as Vietnamese companies team-up with foreign fast food giants to expand their businesses.
McDonald's will open five to six stores in HCM City this year, increasing the total number of restaurants in Vietnam to nine.
Fast-food giant McDonald’s has just opened its fourth Vietnamese outlet in Go Vap district, Ho Chi Minh City, on the occasion of one year of its presence in the country, the Dau Tu (Investment) newspaper reported.
(VOV) -A group of investors, including venture capitalist Henry Nguyen, is set to purchase MLS club Chivas USA, Sports Illustrated reported on Sept. 30.
(VOV) -Leading US fast-food corporation MacDonald’s is scheduled to inaugurate its second outlet in Vietnam at the corner of Pham Ngu Lao and Tran Hung Dao streets near Ben Thanh Market on May 16.
(VOV) - McDonald’s inaugurated a restaurant in HCM City on February 7, making its first presence known in Vietnam.
(VOV) - McDonald’s Vietnamese franchise Good Day Hospitality has officially announced Vietnam’s first McDonald’s restaurant will open at No 2–6 Bis Dien Bien Phu Street, District 1, Ho Chi Minh City.