Vietnam’s largest coffee processing firm and retail franchisor is investing $80 million over the next three years to expand its processing operations in the Central Highlands.
According to a recent Wall Street Journal report, the investment by Trung Nguyen Coffee Group Corp. is part of a 10-year plan to invest $800 million in coffee processing facilities to help meet growing demand locally and abroad for roasted and ground instant coffee.
“We will upgrade existing facilities and invest $800 million in a new series of processing plants in Buon Ma Thuot city. Trung Nguyen aims to become the world’s biggest processor of coffee products by 2022,” Group Chairman Dang Le Nguyen Vu told Dow Jones Newswires.
According to the WSJ report, local coffee consumption has risen by 22 to 25 percent thus far in 2012, while exports of Vietnam coffee — primarily to the United States, Germany and China, has risen by 20 percent this year. The Trung Nguyen Coffee group is also the largest coffee shop franchiser in Vietnam.