Brazilian company JBS S/A has disclosed a $100 million investment plan to establish two new facilities in Vietnam chiefly focusing on beef, pork, and poultry processing. This new venture comes shortly after President Luiz Inacio Lula da Silva's announcement during his state visit to Vietnam that the country will be purchasing Brazilian meat. These upcoming plants mark JBS's maiden food processing facilities in Vietnam, complementing its existing leather factory in the area.

The upcoming plants will predominantly utilize raw materials sourced from Brazil and are intended to cater to the Vietnamese and other Southeast Asian markets, as declared by the company in a statement. JBS aims for this investment to be purposeful, with the prospect of generating around 500 job opportunities in the vicinity.

JBS's strategy involves constructing a logistics hub with storage capabilities, encompassing preliminary procedures, cutting, and packaging services within a northern industrial zone. Subsequently, following the operationalization of the first logistics center, it plans to establish another logistics hub and processing facility in southern Vietnam within two years. The company has yet to provide a specific timeline for the commencement of operations.