Nestlé has announced a $70m investment in the construction of a new factory just outside Hanoi, in northern Vietnam.
The company has broken ground on the 10 hectare site – located on an industrial park in Hung Yen province – which will be used to facilitate product innovation for the local market.
The new factory is part of Nestlé Vietnam’s strategy to further reinforce its leading position as a nutrition, health and wellness provider. With the high-quality infrastructure and technology, the new factory is not only dedicated to delivering the best product quality but will also minimise the environmental footprint and optimise the natural resource usage of the facility.
The new factory will help bring Nestlé products closer to consumers in northern Vietnam and will enable the company to further strengthen its supply chain to ensure the freshness of products offered to local consumers. It is expected to create around 300 jobs for the local economy by May 2017, Swiss-based Nestlé said.
Ganesan Ampalavanar, managing director of Nestlé Vietnam, said: “This factory will be the sixth factory of the Nestlé Vietnam group of companies in Vietnam and the second one in Hung Yen province. The investment reflects our strong confidence in the rapid development of Vietnam economy. As a local – multinational company, we aim at creating shared value for the local community by opening up new employment opportunities, increasing more Nestlé quality products made by Vietnamese, helping to meet growing Vietnamese consumer demand especially in the Northern part of Vietnam thus contributing to the Vietnam economy growth.”
For over 20 years, Nestlé’s investments in Vietnam have been increased significantly from $24 million in 1995 to $520 million in 2016. It operates five factories within the country, employing more than 2,000 people nationwide.
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