Brazil meatpacker JBS to spend $100 million to build 2 factories in Vietnam
Brazilian meatpacking company JBS S.A. has announced a $100 million investment to construct two new processing plants in Vietnam, aiming to strengthen its presence in the Southeast Asian market.
The first facility will be located in the Nam Đình Vũ Industrial Park and will include a logistics center. The second plant is planned for southern Vietnam and is expected to commence operations two years after the first, featuring similar infrastructure.
This initiative was formalized through a memorandum of understanding with the Vietnamese government during Brazilian President Luiz Inácio Lula da Silva's state visit to Hanoi. The investment is anticipated to create skilled jobs and enhance food security in the region.
Prior to this, JBS had a presence in Vietnam's leather tanning sector since 2014, with an annual output of approximately 7.5 million square meters of leather.
This expansion aligns with Vietnam's consideration to open its market to Brazilian beef, potentially attracting further investments from companies like JBS.
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