Nestlé Vietnam on March 16 began construction of a new $70 million factory at Thang Long II Industrial Park in the northern province of Hung Yen.
The factory will be built on an area of 10 hectares. It will help bring Nestlé products closer to consumers in the north of Vietnam and enable the company to further strengthen its supply chain to ensure the freshness of its products. 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 and the second one in Hung Yen. The investment reflects our strong confidence in the rapid development of Vietnam’s economy. As a local – multinational company, we aim at creating shared value for the local community by opening up new employment opportunities, having more Nestlé products made by Vietnamese and helping to meet growing Vietnamese consumer demand especially in the northern part of Vietnam,” said Ganesan Ampalavanar, managing director of Nestlé Vietnam.
“Hung Yen has many advantages such as a convenient transportation system, good human resources, and favorable investment conditions. It is an attractive destination for many businesses. The Nestlé factory in Hung Yen will contribute to the development of industry in the province,” said Deputy Minister of Industry and Trade Ho Thi Kim Thoa.
For the last 20 years, Nestlé Vietnam’s investment has increased significantly from $24 million in 1995 to $520 million in 2016. Nestlé has received a certificate of merit from Vietnam’s General Department of Taxation for its financial contribution.
Nutrition, health and wellness company Nestlé employs over 339,000 employees worldwide. In Vietnam, Nestlé operates five factories with more than 2,000 employees.
“In Vietnam Swiss investments are increasingly important. All the great Swiss companies have been investing here for many years, contributing to a total of $2 billion and making Switzerland the fourth biggest European investor in this country, figuring even before Germany,” said Beatrice Maser, Ambassador of Switzerland to Vietnam. “Nestlé Vietnam is a good example of the Swiss excellence as in its production it applies the strictest requirements in the area of food safety, an area where Vietnam is facing many challenges.”