KFC will open its first store in Mongolia later this year following a partnership by its parent company, Yum! Brands Inc. and Tavan Bogd Group.
According to Bloomberg, the Yum! Brands' company plans four restaurants in the country in 2013, all of which will be located in the capital city of Ulan Bator, Ts.
All four KFC outlets will be located in the capital city of Ulan Bator, Ts. Baatarsaikhan, chief executive officer of Tavan Bogd, said in today's statement.
"We are conducting a market survey together with a global research company to determine the market potential and identify eating habits of Mongolians, which will outline our development road map," he said.
Tavan Bogd won the rights to establish KFC in Mongolia. The company's portfolio also includes the distribution of Volkswagon AG (VOW) cars.
Mongolia's economy is forecast to expand 15.7 percent this year, the fastest pace in Asia, according to International Monetary Fund estimates.
