Vietnamese restaurant eyes Hong Kong

Vietnam’s largest restaurant chain, Huy Vietnam Group, says it plans to enter the Hong Kong market and other Asian countries.

It currently runs 24 restaurants under the Mon Hue and Com Express brands serving traditional Vietnamese cuisine.

The company has just secured US$3.3 million in financing from institutional and high net worth investors from China and Singapore, after its US$3.5 million in Series A financing earlier in 2013. The new round of funding will be used to further support its expansion in Ho Chi Minh City, Hanoi, and Danang.

Founded in 2007, Huy Vietnam is the first international, professionally managed restaurant chain operated in Vietnam serving traditional Vietnamese food prepared from formulated family-owned recipes.

Huy Vietnam plans to continue to open two to four Mon Hue and Com Express restaurants per month in 2014.

“We look forward to becoming the leading restaurant operator in all of Vietnam by the end of 2014,” said co-founder, chairman and CEO Ky Huy.

Vietnam is one of the fastest growing economies in Asia, with 5.9 per cent GDP growth in 2011 and average annual GDP growth of over seven per cent annually in the past decade. The strong GDP growth has fuelled the development of the restaurant business in Vietnam due to the local culture of dining out.

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