Nestlé, Switzerland, announced plans to begin construction on a new $70 million, 10-hectares facility in Hung Yen province, North of Vietnam.
This new investment confirms Nestlé’s long-term commitment to Vietnam, and is part of the company’s strategy to further reinforce its leading position as a nutrition, health and wellness company.
With the state-of-the-art infrastructure and technology, the new factory is not only dedicated to deliver the best product quality, but also to minimize the environmental footprint and optimize natural resource usage.
The new factory will also enable Nestlé to further strengthen its supply chain to ensure freshness of its products to local consumers. The factory is expected to create 300 new jobs by May 2017.
"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, multi-national company, we aim at creating shared value for the local community by opening up new employment opportunities, increasing more quality products made by Vietnamese [and] helping to meet growing Vietnamese consumer demand, especially in the Northern part of Vietnam, thus contributing to the Vietnam economy growth,” says Ganesan Ampalavanar, managing director of Nestlé Vietnam.
For the last 20-plus years, Nestlé Vietnam’s investment in Vietnam has increased from $24 million in 1995 to $520 million in 2016.