Nestle yesterday announced on Aug. 9 it would spend 270 million USD on a new coffee factory in the southern province of Dong Nai.
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The factory will produce instant coffee for local use and export and is expected to open by 2013, said Rasid Qureshi, general director of Nestle Vietnam.
"The venture is expected to create 200 jobs and hundreds of other indirect jobs," Qureshi said, adding that the company has pledged to directly purchase 30,000 tonnes of coffee from 16,000 farmer households every year.
He said Nestle is working with the Ministry of Agriculture and Rural Development to improve coffee productivity through better farming practices and by distributing high-yield, disease-resistant plants.
"The ultimate goal is to engage with 20,000 Vietnamese coffee farmer households within five years," he said. "Nestle Vietnam has built a strong partnership with local partners to become a top coffee buyer in the country."
Deputy Minister of Industry and Trade Tran Quoc Khanh said the company will help create stable jobs, boost coffee-bean sales, contribute to the State budget and, more importantly, help introduce Vietnamese coffee to the world.
Between 1995-2011, Nestle has increased its capital investment in the country from 25 million USD to 75 million USD, employing more than 1,500 workers nationwide./.