Jollibee Ranks as Top Quick Service in COMMUNIST Vietnam

Foreign Trade University

It's time for another Jollibee-related post. I first wrote an article about Jollibee's success in the world market in 2022. I "followed up" the post I just shared with an article talking about hypocritically rejoing that Jollibee is rising worldwide, while still opposing FDI. My recent focus has been on Jollibee World's success in Vietnam. I'd like to share an excerpt from this ABS-CBN News report by Arthur Fuentes:

Since debuting in Ho Chi Minh City in 2005, the chain has expanded to over 250 outlets across 50 provinces. Jollibee said its strategy has relied on "local relevance," tailoring its flagship fried chicken and spaghetti to Vietnamese palates while aggressively targeting the youth demographic. 

“Vietnam is a highly dynamic and competitive market, and our progress reflects our focus on understanding local consumers and executing well on the fundamentals,” said Ernesto Tanmantiong, Global President and CEO of Jollibee Group.

He added that the success "reinforces our belief that long-term growth in international markets comes from staying relevant to consumers while building strong operating foundations."

The brand's rise has been bolstered by a diverse mix of mall-based and delivery-focused hubs, the company said. Dennis Flores, President of Jollibee’s EMEAA region, credited the local team's "commitment to getting the fundamentals right" for the top ranking.

“We’re grateful to the Vietnamese consumers who continue to choose Jollibee and make us part of their everyday moments,” Flores said.

Why in the world are some Filipinos rejoicing over Jollibee's worldwide expansion while simultaneously crying about FDIs entering the Philippines? If we think about the news, Jollibee's expansion in other countries was made possible through FDI-friendly policies. In fact, it was through Doi Moi that Vietnam actually progressed. Vietnam didn't wait until it was stable before they opened up its economy to foreign investors. Vietnam opened its economy while they were still at its lowest point, post-Vietnam War. 

Yes, a lot of people in Communist Vietnam have loved Jollibee since 2005. Vietnam continues to retain its sovereignty even while accepting FDIs. The Vietnamese youths (which also include the Ho Chi Minh Communist Youth Union) have been the target. Jollibee knew its target market. Vietnam got "addicted" to FDI that it actually maintained its Doi Moi. Ironically, the Foreign Trade University was established on August 20, 1960, sometime before Doi Moi happened in 1986. Today, the FTU has become one of Vietnam's top business schools in a Communist country. 

Despite being a Communist country, Vietnam shifted away from pure ideology to an evolving ideology. Jollibee came from a democratic country. But now, it's the top quick service of Communist Vietnam. So really, what's the Philippines' excuse now now to remove the 60-40 policy, considering that it's actually a democratic country?