Nestle Vietnam inked on Thursday a memorandum of understanding with the Ministry of Agriculture and Rural Development to assist coffee farmers.
HCM CITY —
The company will help 24,000 farming households over the next five years to increase productivity by providing effective farming practices and seedlings capable of high yield and disease-resistance.
The memorandum of understanding marked the 100th anniversary of Nestle's presence in Viet Nam, with its first office set up in the former Sai Gon in 1912.
In 1992, the company officially returned, entering a mineral water joint venture, La Vie, with a local partner.
To date, it has invested US$400 million in six factories making coffee, tea, cocoa, soya bean sauce and cooking oil products, with the sixth representing $270 million to open in November.
The factory in southern Dong Nai Province will be capable of turning out 30,000 tonnes of coffee products per year. — VNS