PepsiCo plans to allocate approximately $90 million towards the establishment of a new snack production facility in Vietnam.
The upcoming facility will be constructed within the expanded Dong Van I Industrial Park in Ha Nam province, spanning an area of 80,000 square meters. The initiative aims to deliver over 23,000 tonnes of PepsiCo snack brands annually to both the Vietnamese and Cambodian markets.
The construction is slated to begin in early 2024 and is projected to conclude by the latter half of 2025.
The proprietor of the Doritos brand has a workforce of approximately 13,000 individuals spread across 14 plants and distribution centers in Vietnam.
Nguyen Viet Ha, general manager of PepsiCo Foods in Vietnam, said, “Despite the general economic difficulties after the Covid-19 pandemic, PepsiCo Foods Vietnam has made remarkable strides. We hope that the new factory project will contribute to promoting economic development, help Vietnamese people through difficulties, and bring long-term benefits to society.”
In a released statement, the company specified its commitment to invest in ingredient sourcing in Ha Nam and northern provinces. This initiative aims to enhance its potato contracting system through the implementation of “regenerative agro practices and digital technology.”
In March, PepsiCo rolled out its Greenhouse accelerator program in the Asia-Pacific (APAC) region, marking the fourth geographic area where the U.S. food and beverage giant has rolled out this initiative.
The program, initially launched in Europe in 2017 and later extended to North America in the subsequent year, aims to assist entrepreneurs whose products advocate for sustainability and the circular economy.
The Greenhouse accelerator is set to provide ten selected candidates with $20,000 along with access to a business development program, facilitating the acceleration of their venture’s growth.
Successful startups enrolled in the program will have access to PepsiCo executives who will offer assistance in areas including corporate structuring, fundraising, product development, supply chain management, and customer acquisition throughout the duration of the program.
