Published July 16, 2013
HANOI, Vietnam – McDonald's has announced it is opening its first restaurant in Vietnam, the latest Western consumer company to bring their brand to the Communist-run country.
The company says Tuesday that Henry Nguyen, a Vietnamese-American investor and the son-in-law of Vietnam's prime minister, would be the main franchise partner.
The spending power of Vietnam's 90 million people is proving attractive to Western companies even as its economy struggles.
Starbucks opened its first cafe in Vietnam earlier this year, joining Subway, Pizza Hut and other foreign brands.
McDonald's said the first restaurant would be in Ho Chi Minh city, the country's commercial capital.
It said Nguyen was chosen after a "rigorous" selection process and said he had worked in a McDonald's while a student in the United States.