JBS Makes $100 Million Investment Push into Vietnam

JBS, a Brazilian meatpacker, plans to invest $100 million in building two factories in Vietnam. This expansion aims to boost its presence in Southeast Asia, utilizing Brazilian raw materials to supply the region. The project, announced during President Luiz Inácio Lula da Silva's state visit to Vietnam, includes creating skilled jobs and enhancing food security.

JBS, a major Brazilian meatpacking firm, has unveiled a plan to invest $100 million towards the development of two new factories in Vietnam. This strategic move is intended to fortify the company's footprint in Southeast Asia while enhancing its global market presence.

The new facilities will focus on producing beef, pork, and poultry, primarily using raw materials sourced from Brazil. JBS formalized this expansion strategy through a memorandum of understanding with the Vietnamese government, coinciding with Brazilian President Luiz Inácio Lula da Silva's visit to the country. This development marks a significant step in opening the Vietnamese market to Brazilian meat products.

The investment is projected to generate substantial economic benefits, such as creating skilled jobs and bolstering food security throughout the region. The first plant is to be established in Khu công nghiệp Nam Đình Vũ, followed by a second facility in southern Vietnam, equipped with logistics and processing centers.

(With inputs from agencies.)