Nissin Foods Holdings, the Japan-based instant noodle maker, plans to invest around JPY3.4bn (USD41.5m) to build an instant noodle plant in Vietnam to meet growing demand.
The plant, located in the Vietnam-Singapore industrial park close to Ho Chi Minh City, is scheduled to start production in June 2012. A subsidiary – Nissin Foods Vietnam – will be set up by the end of month.
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“Vietnam is the world’s fourth largest market for instant noodles after China, Indonesia and Japan. With around 60% of its population below 30-years-old, we see this spending continuing to grow in the future,” a Nissin spokesperson told just-food.
This is the first time Nissin had shifted production to Vietnam, the spokesperson added.
Nissin is no stranger to the region with long-established plants in south-east Asian countries such as Singapore and Thailand. Nissin also wants to boost its Thai operations, planning a capital injection of JPY2.5bn this month.
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