McDonald's Corp. plans to open its first restaurant in Vietnam early next year. The country will be its 38th in Asia. The company sees an opportunity to grow in Vietnam as the average income rises and local tastes change, The Wall Street Journal reported. The company had chosen Henry Nguyen, a Vietnamese-American investor and the son-in-law of Vietnamese Prime Minister Nguyen Tan Dung, as its main franchise partner in the country, based on a "rigorous" selection process.
Though McDonald's hasn't named a precise location for its first restaurant, it will be in Ho Chi Minh City, the country's economic hub.
"The time is right for us now in Vietnam, having identified a strong partner and viable business opportunity," Liam Jeory, Spokesperson for McDonald's, said.
Last year, Vietnam made changes in investment laws that included easing restrictions on companies like McDonald's that rely on a global supply chain.
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