The government of Vietnam announced on Friday that American food and beverage manufacturer PepsiCo Inc. committed to investing an additional $400 million in the nation to construct two new plants using renewable energy.
The announcement was made during a three-day work visit to Vietnam this week by representatives of over sixty American businesses, including Suntory PepsiCo Vietnam Beverage.
According to the Vietnamese government, two factories will be built: one for food processing to cost $90 million and another for beverage manufacturing to cost over $300 million in the southern province of Long An.
The two factories’ commissioning times were not specified in the report.
The business said late last year that it had received an investment certificate for the Ha Nam factory, which was supposed to start up in the third quarter of 2025.
PepsiCo entered Vietnam in 1994 and now operates five plants there.