There is a claim that McDonald's has struggled to succeed in Vietnam because Vietnamese street food is just so good, like in the following meme:
"Street food in Vietnam is so common, quick, and cheap that international fast food chains like McDonald's struggled to succeed after entering the market."
However, a little bit of research shows that this claim is utterly wrong.
TransitionsAbroad.com notes (and I don't think anyone would disagree) that:
"Street food is more the norm than the exception in most parts of Asia, where the weather often permits locals to be outside year-round and where the convenience of kitchens equipped with refrigerators or modern stoves is not the reality for many homes. Regardless, Bangkok is an extraordinary place to sample street food — or any food."
In other words, in most parts of Asia, and definitely Thailand, street food is common.
Meanwhile, the Unforgettable Travel Company opines (and I don't think many would disagree) that:
"Cooked fast and hot and to order, eating on the street in Thailand is typically safe and incredibly cheap too"
So in Thailand, street food is quick and cheap.
If the reason why McDonald's has not had much success in Vietnam were really because "Street food in Vietnam is so common, quick, and cheap", then we would expect McDonald's in Thailand to be similarly unsuccessful (amusingly, one cope I got was that "this has nothing to do with other parts of Asia. The statement says Vietnam. And the statement is true").
Yet, the numbers paint a different story. According to the official tally of McDonald's Systemwide Restaurants among International Developmental Licensees, in 2023 there were 33 McDonald's in Vietnam and 230 in Thailand.
So on a per capita basis, there was one McDonald's per 3,066,401 people in Vietnam, but one per 311,530 in Thailand. In other words, McDonald's was 9.8x more popular (or common, at least) in Thailand than in Vietnam. So "common, quick, and cheap" cannot explain why McDonald's is not successful in Vietnam.
Also note that KFC is even more popular in Thailand than McDonald's, with 288 outlets as of March 31, 2024, according to Devyani International Limited (which bought over the Thai franchise in January 2024). And in Vietnam itself, KFC had 135 outlets in 2020 and 145 in 2023, which is an even more convincing refutation of the claim (I won't even go into Lotteria, since people may quibble that they're not American).
So we would need to look into country-specific factors to understand why McDonald's is not successful in Vietnam.
I'm not entirely persuaded by this article, but it's at least more convincing than the meme:
Why McDonald’s Failed in Vietnam.
"Reason 1: Mcdonald’s Fast Service Wasn’t Faster Than Vietnamese Cuisine
Reason 2: The Local Competition Was Tough
Reason 3: The Vietnam War Had Created Political Hurdles
Reason 4: McDonald’s Used the Western Pricing Strategy in the East
Reason 5: McDonald’s Menu Didn’t Coincide With the Local Culture of Sharing Food"