Attacking the Vietnamese market: that’s the objective of JBS, the Brazilian meat processing giant, which has announced a $100 million investment to build two plants in Vietnam. They will produce beef, pork, and poultry, using raw materials mainly imported from Brazil.
Attacking the Vietnamese market
The agreement was signed during the visit of Brazil’s President Lula to Vietnam to announce the opening of the Vietnamese market to Brazilian meat. JBS was part of the trade delegation accompanying the president and signed a letter of understanding with the Vietnamese government. The goal of the investment is to supply Vietnam and other Southeast Asian countries.
This Brazilian company reported that the first facility will be built in Hải Phòng and will have a logistics center with storage capacity, and pre-processing, cutting, and packaging capabilities as well. The second facility will be built in southern Vietnam two years after the first one, and will be quite similar to the first one. JBS has no forecast in terms of when operations will begin. The investment should create about 500 jobs.
Expansion plans
“The new plants in Vietnam will not just be an expansion of production capacity, but an investment with a purpose: to generate value for the local economy, create skilled jobs, and contribute to food security throughout Southeast Asia,” said Renato Costa, CEO of Friboi (the beef division of JBS), according to Reuters reports. This investment follows other significant global projects by JBS, such as those in the U.S., Nigeria, and Saudi Arabia, as well as the acquisition of The Vegetarian Butcher from Unilever.
Photo from Shutterstock
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