Burger King rejects reports of potential exit from Vietnam

Thanh Nien News

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 A file photo of a Burger King store, now closed, in Ho Chi Minh City. Photo: Diep Duc Minh
The US's fast food chain Burger King has dismissed media reports that it is leaving Vietnam after shutting down three stores here over the past year.
Speaking to news website Dau Tu on Monday, CEO Nguyen Gia Thanh said it has closed two stores in Ho Chi Minh City as part of a plan in order to move them to better locations at reasonable rents. 
A store in Hanoi was also shuttered only months after it was opened.
Thanh said Burger King will continue to expand in the city as well as Hanoi.
Last week some local news websites hinted at possibilities that Burger King, which entered Vietnam in 2012, was leaving the country.
According to the reports, Burger King has apparently failed to compete with early birds such as KFC, Lotteria and Jolibee, as well as the new favorite McDonald's.
Burger King expected to open 60 stores around the country in five years since its entry, but it now has only 16 locations. 

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