Brazilian meat processing company JBS has revealed plans to invest $100 million in constructing two factories in Vietnam. Their goal is to enhance their presence in Southeast Asia and strengthen their global market position by producing beef, pork, and poultry using raw materials imported from Brazil for supply not only to Vietnam but also to nearby countries. The agreement was settled via a memorandum of understanding with the Vietnamese government, coinciding with a state visit by Brazilian President Luiz Inácio Lula da Silva, during which the Vietnamese market was opened to Brazilian meat products. JBS aims to not only expand production but also to benefit the local economy, create jobs, and enhance food security in Southeast Asia. The initial plant will be located in Khu công nghiệp Nam Đình Vũ, with a focus on logistics, pre-processing, cutting, and packaging. The second factory is planned for the southern region of Vietnam and is expected to commence operations two years after the first plant.