Nestle announces US$100 million investment in Colombia

Global food company Nestle will invest US$100 million in its Colombian operations over the next three years.

President Gustavo Petro made the announcement in a post on Twitter on Friday (27).

The new investment plan builds on the US$13 million the world’s largest food and beverage company has already spent in the South American country, the government said in a statement.

The new funds will focus on increasing production capacity and updating technology.

“The industrialization of Colombia is essential if we want to overcome poverty,” Petro wrote on Twitter.

The statement quoted top Latin America manager Laurent Freixe as saying the plan will allow the company to strengthen its product portfolio and align with some government priorities, such as promoting youth employment.

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