JBS, the Brazilian meatpacking firm, announced a $100 million investment to establish two factories in Vietnam, aiming to strengthen its global market position and support local production. This initiative will generate approximately 500 jobs and includes plans for training local workers, while also addressing concerns regarding the company’s labor practices and environmental impact.
On March 31, Brazilian meatpacking giant JBS declared a significant investment of $100 million for the establishment of two factories in Vietnam. This initiative seeks to enhance JBS’s footprint in the Asian market and bolster its competitive standing globally.
JBS operates over 600 facilities across five continents, including regions such as the Americas, Asia, Europe, Africa, and Oceania, employing more than 70,000 individuals in the United States alone. The forthcoming plants in Vietnam will manufacture beef, pork, and poultry products, primarily sourcing raw materials from Brazil to cater to both the local Vietnamese market and other Southeast Asian nations.
The investment aligns with Vietnam’s objectives for socioeconomic growth; however, concerns arise from JBS’s controversial labor practices and environmental issues. The project was officially established through a memorandum of understanding with the Vietnamese government, represented by the Northern Investment Promotion, Information, and Support Centre and Sao Do Group overseeing the Nam Dinh Vu Industrial and Non-Tariff Zone in Haiphong.
Renato Costa, president of Friboi, a JBS subsidiary, emphasized the company’s dedication to sustainability in the region. He stated that the new factories aim not only to increase production capacity but also to generate value for the local economy, foster job creation, and enhance food security in Southeast Asia. \”We are investing in the future, with a focus on innovation, sustainability, and development,\” he asserted.
The first phase of this project will launch at Nam Dinh Vu Industrial Park, featuring a logistics center complete with storage and processing functions. The subsequent phase, commencing two years later in southern Vietnam, will replicate this infrastructure, encompassing another logistics center and processing plant.
Costa remarked on the significance of the collaboration among JBS, the Vietnamese government, and local partners. \”This move not only strengthens our ability to serve the local market but also expands our global presence, creating a robust and sustainable supply chain that positions us even more competitively in the international market,\” he noted.
With the establishment of these two factories, JBS anticipates the creation of approximately 500 new jobs and is committed to launching technical training initiatives and technology transfers to support Vietnamese workers, thereby advancing the nation’s productive sector.
In summary, JBS’s $100 million investment in Vietnam marks a strategic expansion into Southeast Asia, aimed at enhancing local production while reinforcing its global presence. This initiative, aligned with Vietnam’s socioeconomic objectives, entails the construction of two factories slated to create 500 jobs and provide training for local workers, despite the controversies surrounding the company. JBS’s commitment to sustainability and innovation is central to this development.
Original Source: www.agdaily.com
