McDonald's to open over 2,800 restaurants in Asia

McDonald's Corp. on Thursday announced plans to open over 2,800 restaurants in Asia in the next five years.

In a statement, the fast food chain said it intends to identify strategic partners in Taiwan and Japan as well as add more than 1,500 restaurants in China, Hong Kong, and Korea.

All in all, the company said the expansion eyes more than 2,800 restaurants over the next five years.

McDonald's, the leading foodservice retailer, has over 36,000 restaurant locations in more than 100 countries.

"Asia represents a significant area of opportunity for McDonald's to blend our global quality standards with local insights and expertise from partners who share our vision and values," said Steve Easterbrook, McDonald's President and CEO.

He said that unlocking the potential growth in Asia will enable McDonald's to reach more diverse markets and bring it closer to its consumers.

"This will allow McDonald's to accelerate our growth and scale faster across diverse markets placing us closer to our customers and the communities we serve," Easterbrook said.

"We're in the midst of transforming our business and taking a strategic and thoughtful approach to enhance our ability to grow around the world. These actions build on our turnaround efforts and will advance local ownership, enable faster decision-making and achieve restaurant growth," he added. — APG, GMA News