Fast food chain Jollibee targets top QSR spot in Vietnam

By Nguyen Tuong
Mon, July 17, 2023 | 2:03 pm GMT+7

Philippines-based fast food giant Jollibee Foods Corp. has announced its ambition to become the largest quick-service restaurant (QSR) chain in Vietnam.

With 158 outlets in the country as of Q1/2023, Jollibee is currently the third biggest QSR brand in the country, catering to a 100% local Vietnamese customer base, the company says.

“With Vietnam’s continued economic development and growing population, we see huge growth prospects for Jollibee in the country,” Jollibee CEO Ernesto Tanmantiong said in a recent company release.

“We intend to maximize Vietnam’s huge growth opportunity in the rapidly growing QSR industry in Vietnam, focusing our investment in key cities and developing areas.”

Jollibee Vietnam has continued to post strong double-digit sales growth both system-wide and per outlet, with dine-in customers exceeding pre-pandemic levels and off-premise channels also growing fast even as customers return to outlets.

Jollibee Vietnam opened seven new stores in 2022 and four more in Q1 of this year. It did not close any outlet permanently during the peak of the pandemic crisis.

To support its growth plans, Jollibee established its own commissary in Vietnam with the capacity to support 400 stores.

Its popular products include fried chicken, sweet chili chicken and sweet spaghetti.

“Our continued success in Vietnam and in many other parts of the world shows that Jollibee can indeed win over the hearts of the international customer base, and we will continue expanding our presence both in Vietnam and around the globe,” Tanmantiong said.

Jollibee operates more than 1,500 outlets in 17 markets worldwide. Its continuous expansion in Vietnam is also part of efforts to become one of the top five restaurant companies in the world.

Vietnamese customers line up to place their orders at a Jollibee outlet in Danang city, central Vietnam. Photo courtesy of Jollibee.

Vietnamese customers line up to place their orders at a Jollibee outlet in Danang city, central Vietnam. Photo courtesy of Jollibee.

Eating out lifestyle

The Vietnamese food service market is expected to register an impressive compound annual growth rate CAGR of 9.70% and its market size is projected to reach around $36.86 billion by 2027, according to a report released in February by global market insights provider Research and Markets.

Jollibee, KFC, Lotteria, Pizza Hut, Pizza 4Ps, Highlands Coffee, Phuc Long Coffee and Tea, Starbucks, C. P. Vietnam Corp., and brands under the Golden Gate Trade Services JSC roof are among the top brands identified by the report.

Due to shifting lifestyles and an increase in food service establishments, eating out was becoming a significant aspect of modern Vietnamese life. In Vietnam, eating out for business purposes is also typical, the report says.

Moreover, Vietnam's food service industry is significantly influenced by the surging trend of eating out among affluent and young consumers, particularly Generation Z and young millennials (18-35 years old).

A report by the Korea Agriculture-Food Group says 43% of Korean businesses have opted to franchise in Vietnam. Significant numbers of major western brands are also present in the country now and Vietnam has also created its own franchise brands.

Numerous fast food chains in Vietnam have turned to online distribution channels to boost overall sales as a result of the 100-million population's increasingly busy lives and hectic schedules, the Research and Markets report notes.

Comments (0)
  • Read More
What makes NobleGo - Vietnam’s first home-bidding livestream platform - so notable?

What makes NobleGo - Vietnam’s first home-bidding livestream platform - so notable?

NobleGo – Vietnam’s pioneering AI-powered livestream real estate bidding platform developed by Sunshine Group – has completed its first 20 livestream sessions.

Real Estate - Tue, September 16, 2025 | 4:53 pm GMT+7

Japanese retailer Aeon to debut another northern Vietnam shopping mall by end-2026

Japanese retailer Aeon to debut another northern Vietnam shopping mall by end-2026

Japanese-backed Aeonmall Vietnam is ramping up construction on its Aeon Mall Ha Long project in Quang Ninh province, home to Ha Long Bay, with an aim to open it to the public by end-2026.

Industries - Tue, September 16, 2025 | 3:54 pm GMT+7

Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex

Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex

A long-stalled automotive manufacturing project by Xuan Kien Auto JSC (Vinaxuki) has been officially terminated by Hanoi authorities, and the reclaimed land in Phuc Thinh commune will be repurposed for a new commercial and service complex.

Industries - Tue, September 16, 2025 | 2:44 pm GMT+7

Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout

Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout

Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.

Energy - Tue, September 16, 2025 | 1:44 pm GMT+7

Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers

Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers

Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.

Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7

Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister

Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister

Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.

Economy - Tue, September 16, 2025 | 9:36 am GMT+7

Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry

Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry

The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.

Finance - Tue, September 16, 2025 | 8:00 am GMT+7

E-commerce boom a major driver of Vietnam's packaging paper industry growth

E-commerce boom a major driver of Vietnam's packaging paper industry growth

Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.

Companies - Mon, September 15, 2025 | 10:20 pm GMT+7

Vietnam needs support from UK in developing international financial center: Deputy PM

Vietnam needs support from UK in developing international financial center: Deputy PM

Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).

Finance - Mon, September 15, 2025 | 10:12 pm GMT+7

Vietnam enforces 8% capital adequacy ratio for banks from Sept 15

Vietnam enforces 8% capital adequacy ratio for banks from Sept 15

Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.

Banking - Mon, September 15, 2025 | 10:04 pm GMT+7

Tool for wood traceability management debuts in Vietnam

Tool for wood traceability management debuts in Vietnam

The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.

Companies - Mon, September 15, 2025 | 10:00 pm GMT+7

Sun Group, US Embassy foster aviation-hospitality cooperation

Sun Group, US Embassy foster aviation-hospitality cooperation

Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.

Companies - Mon, September 15, 2025 | 9:54 pm GMT+7

Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1

Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1

Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.

Companies - Mon, September 15, 2025 | 8:10 pm GMT+7

Central Vietnam to have new airport Mang Den

Central Vietnam to have new airport Mang Den

Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.

Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7

Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital

Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital

The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.

Economy - Mon, September 15, 2025 | 2:20 pm GMT+7

Agribank introduces sizable $4.17 bln preferential credit package

Agribank introduces sizable $4.17 bln preferential credit package

Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.

Companies - Mon, September 15, 2025 | 1:32 pm GMT+7