F I T : Westfood Invests in Large-Scale Agro-processing Plant in Hau Giang

Mrs. Nguyen Thi Minh Nguyet, Chairwoman and CEO of Westfood, has announced the company's investment in a state-of-the-art agro-processing plant in Hau Giang province.

At the 20th anniversary ceremony of the Westfood Export Food Processing Joint Stock Company on June 16, Chairwoman Nguyen Thi Minh Nguyet shared that the company's significant plan for 2023 is to commence construction on the Westfood plant in Hau Giang, which meets European standards, spanning over 70,000 square meters, and is expected to be operational in 2024. This plant will provide employment for thousands of workers, help consume the products of local farmers, and ensure an outlet for local agricultural products.

Upon completion, the project is expected to become one of the largest agro-processing plants in the Western region, enabling Westfood to produce various new high-quality products alongside existing ones, and contribute to the socio-economic development of the region.

Truong Canh Tuyen, Deputy Chairman of the People's Committee of Hau Giang Province, highly appreciated Westfood's contribution to the socio-economic development of the locality.

Regarding the project, Mr. Tuyen added that the province has approved the investment for Westfood to initiate a project of canned fruit processing plant in Song Hau Industrial Zone (Chau Thanh district), with a scale of about 7 hectares. Currently, the company is finalizing procedures to commence the project in September 2023. This event is also part of the series of activities to celebrate the 20th anniversary of the establishment of Hau Giang province.

Westfood was established on June 18, 2003, with a charter capital of 9 billion VND. After 20 years of development, Westfood has continuously grown and achieved certain accomplishments, with the charter capital reaching over 302 billion VND, increasing more than 30 times compared to the inception; the workforce doubled, reaching over 550 people by 2023.

Westfood's revenue has also grown over time, reaching 320 billion VND in 2022, and is projected to continue growing in 2023, estimated to reach 410 billion VND. From a single canned production line at its inception, Westfood now owns one of the most modern factories in Vietnam, with canning and advanced European standard IQF freezing lines.

One of Westfood's strengths in agricultural exports is its self-sufficiency in raw materials, notably the King MD2 pineapple area - one of the sweetest and most uniformly sized pineapple varieties in the world. In 2022, Westfood managed to cultivate 140 hectares of MD2 pineapples, projected to reach 1,000 hectares by 2028. Among these, the area meeting the Global Gap standard accounts for 50% of the total area.

Speaking at the 20th anniversary ceremony of Westfood's establishment, Mr. Truong Canh Tuyen stated that Westfood has made an essential contribution to the development of Hau Giang province. Particularly, Mr. Tuyen highly valued the company's development of raw material areas in Hau Giang, a matter of great concern for the province, as it contributes to the transformation of crops and increases local people's income.

"Though a 20-year journey is not long, neither is it short, with Westfood's achievements, we believe that the company will achieve further success in the future, contributing to the development of Hau Giang province," Mr. Truong Canh Tuyen expressed.