Nestlé to Invest $70 Million in a New Factory in North Vietnam
Nestlé Vietnam began construction of a new $70 million factory located in Hung Yen province, North Vietnam. The factory will be built on an area of 10 hectares to facilitate the company’s product innovations for the local consumption.
This new investment confirms Nestlé’s confidence in and long-term commitment to Vietnam. The new factory is part of Nestlé Vietnam’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 minimize the environment footprint and optimize natural resource usage.
The new factory will help Nestlé to further strengthen its supply chain to ensure freshness of its products to local consumers. The factory is expected to create 300 new job opportunities for the local people by May 2017. The new facility will be Nestlé’s sixth factory in Vietnam and the second one in Hung Yen province.
For the last over 20 years, Nestlé’s investment in Vietnam has been increased significantly from $24 million in 1995 to $520 million in 2016.
