01:34 (GMT +7) - Sunday 11/12/2016

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Nestlé building $70 million factory in Hung Yen

Released at: 10:45, 17/03/2016

Nestlé building $70 million factory in Hung Yen

Sixth factory in Vietnam to bolster supply of Nestlé products around the country.

Nestlé Vietnam began construction of its sixth factory in Vietnam on March 16, at the Thang Long II Industrial Park in northern Hung Yen province.

The factory is being built on an area of 10 ha with total investment of $70 million to facilitate the company’s product innovations for local consumption and is its second in Hung Yen province.

“The investment reflects our strong confidence in the rapid development of Vietnam’s economy,” said Mr. Ganesan Ampalavanar, Managing Director of Nestlé Vietnam.

“As a local, multinational company, we aim to create shared values for the local community by opening up new employment opportunities, increasing the amount of quality Nestlé products made in Vietnam, and helping to meet growing consumer demand in the country, especially in the north, thus contributing to economic growth,” he added.

The factory is expected to begin production in May 2017 and employ 300 workers.

In the last 20 years Nestlé Vietnam’s investment in Vietnam has increased from $24 million in 1995 to $520 million in 2015. Its five existing factories employ more than 2,000 workers.

The new investment in the sixth factory is part of its strategy to further reinforce its leading position as a nutrition, health, and wellness company in Vietnam.

Hoai An
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