VNExpress-Sept 28

Foreign companies including Nestlé and LG continue to expand in Vietnam since they see the country’s Covid-19 setbacks as temporary. Nestlé has announced a $132-million investment in the next two years to build a new plant in the southern province of Dong Nai. This is part of its long-term vision as it sees Vietnam as a regional and global manufacturing hub. CEO of Nestlé Vietnam, Binu Jacob, said at a forum Monday. There have been temporary difficulties caused by the increasing costs of the stay-at-work model and disruptions in the supply chain, but Vietnam remains one of Nestlé’s top manufacturing facilities globally, he said. The new investment would help create new products for the Asian-Pacific markets, he said. “The Dong Nai plant will become the biggest coffee manufacturing plant in the world.”

Samsung Vietnam CEO Choi Joo Ho said his company’s investment strategy in Vietnam has not changed. It has been expanding its investment, purchasing manufacturing equipment for its six plants diversifying into 5G technology and laptops, he said. Read more at: https://e.vnexpress.net/news/business/economy/foreign-firms-expand-investment-in-vietnam-4363092.html