One of America’s most iconic restaurant chains has finally arrived in the capital of Vietnam.
Over the weekend, McDonald’s (MCD) opened its first location in Ho Chi Minh City. Vietman is already home to restaurants from McDonald’s rivals, including Burger King (BKW) and Yum! Brands (YUM) KFC, CNN notes.
McDonald’s announced that it had secured a developmental licensee to launch its operations in the Southeast Asian nation last year. Ho Chi Minh City’s first McDonald’s restaurant features a 24-hour drive-through window.
The menu in Vietnam’s first McDonald’s restaurant includes typical McDonald’s fare with some local variations. McDonald’s now has locations in 119 countries around the world.
Last month, U.S. beverage chain Starbucks (SBUX) announced plans to open a location in Ho Chi Minh City early this year.
MCD stock fell more than 1% in Monday morning trading. MCD stock has climbed less than 1% over the past year.