(Bloomberg) — Brazilian meatpacker JBS S/A announced a $100 million investment to build two new plants in Vietnam, focused on beef, pork and poultry.
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The announcement comes a day after President Luiz Inacio Lula da Silva, who is on a state visit, announced that Vietnam will start buying Brazilian meat. The plants will be JBS’s first food processing units in the country. The company already has a leather factory in the region.
The new factories will mainly use raw materials imported from Brazil and target the Vietnamese market and other Southeast Asian countries, the company said in a press release. Its goal is “investment with a purpose,” the company said, adding that the plants will create 500 new jobs in the region.
JBS plans to build a logistics center with storage capacity, including preprocessing, cutting and packaging activities in a northern industrial park. Two years after that one is operational, the company plans to set up a second logistics center and processing plant in southern Vietnam. JBS has no forecast for the start of operations.
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