Paldo Strengthens Vietnam Presence with Second Factory Completion
According to Korea Economical Daily, South Korean food gaint Paldo is ramping up its presence in Vietnam with the completion of its second factory in the country. This strategic move highlights Paldo's commitment to the Vietnamese market and its ambitious plans to become a major regional food and beverage exporter.
Driven by surging local demand in Vietnam, Paldo decided to expand its production capacity. The new factory, located in Tay Ninh Province in southern Vietnam, boasts a massive footprint and is equipped with state-of-the-art technology for efficient production of both instant noodles and beverages. Notably, Paldo emphasizes that both factories adhere to strict domestic production standards, ensuring Vietnamese consumers receive the same high-quality products as those enjoyed in Korea.
With the addition of the southern factory, Paldo has established a strategic "production belt" spanning Vietnam. This geographically balanced approach allows Paldo to cater to the entire Vietnamese market efficiently.
The new factory is no slouch. It boasts an impressive annual production capacity of 100 million packs of instant noodles and a whopping 150 million beverage products. Plans are underway to expand the noodle production line next year, potentially pushing annual output to over 400 million packs. Combined with the existing factory, Paldo's Vietnamese production capacity for noodles alone will reach a staggering 700 million packs annually.
Paldo isn't just satisfying Vietnamese appetites. The company strategically uses Vietnam as a springboard for Southeast Asian dominance, capitalizing on the country's strategic location, favorable business environment, and growing consumer market. Products manufactured in Vietnam are already being exported to 10 countries, including major markets like the US, Japan, and Australia. To further solidify its regional presence, Paldo established a dedicated local office in Cambodia last year.
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Date of record
16 April 2024
