Japan noodle firm Acecook to start $87 mln investment in northern Vietnam in 2027
Acecook Vietnam, under Japanese instant noodle firm Acecook, plans to start operating a VND2,200 billion ($86.6 million) investment in the northern province of Hung Yen from the second quarter of 2027.
Kaneda Hiroki, CEO of Acecook Vietnam, made the statement on Sunday at a conference held to discuss the master plan for Hung Yen province for 2021-2030, where the firm received an investment registration certificate. The investment is set to employ 2,000 people, the executive added.
Kaneda Hiroki, CEO of Acecook Vietnam, speaks at Hung Yen's master plan announcement on July 7, 2024. Photo courtesy of the government's news portal.
He also lauded Hung Yen’s favorable investment conditions, which prompted the firm to make the move, after its first investment in a factory in Nhu Quynh industrial park began in 2001.
At the event, the Ministry of Planning and Investment and Hung Yen authorities granted investment registration certificates and in-principle approval decisions to 24 projects. They included 19 foreign investments of $630 million and five domestic investments of VND10 trillion ($393.6 million).
Acecook entered Vietnam in 1993 and is one of the country's top noodle businesses. Prior to the latest addition, Acecook operated 11 factories across Vietnam, employing 6,000 people and supplying 3.4 billion servings a year. The firm’s average productivity is 600 packs per minute from each production line. In 2022, the firm made a revenue of nearly $600 million.
In March 2024, Acecook kicked off the construction of its 12th factory in Vietnam. The $200-million factory, located in the Mekong Delta province of Vinh Long, is set to employ 3,000 people, making various products including noodles, rice noodles, vermicelli, and glass noodles.
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