News
Nestlé invests $70m in Vietnam
21 Mar 2016Nestlé Vietnam has begun construction of a new $70 million factory at Thang Long II Industrial Park located in Hung Yen province, North of Vietnam. The factory will be built on an area of 10 hectares to facilitate the company’s products for local consumption.
Nestlé Vietnam has begun construction of a new $70 million factory at Thang Long II Industrial Park located in Hung Yen province, North of Vietnam. The factory will be built on an area of 10 hectares to facilitate the company’s products for local consumption.
The new factory is part of Nestlé Vietnam’s strategy to further reinforce its position as a nutrition, health and wellness company. The new factory will help bring Nestlé products closer to North Vietnam consumers and will enable the company 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 local people 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,” said Ganesan Ampalavanar, Managing Director of Nestlé Vietnam. “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 the last over 20 years, Nestlé Vietnam says that its investment in Vietnam has increased significantly from $24 million in 1995 to $520 million in 2016.