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Olam's facilities in Vietnam not affected by protests

Olam International said its facilities in Vietnam have not been affected by anti-China protests, which have seen protesters torching foreign factories.

SINGAPORE: Olam International said its facilities in Vietnam have not been affected by anti-China protests, which have seen protesters torching foreign factories.

According to the company's website, Olam started operations in Vietnam in 2000 when it set up its first coffee factory in Daknong Province.

It is currently the largest exporter of cashews, pepper and instant coffee in Vietnam.

It has invested US$45 million in an instant coffee facility, and runs seven large factories with 1,700 employees across central and southern Vietnam.

Sunny Verghese, group managing director and CEO of Olam International, said: "Any unrest of the kind is a concern. We have significant assets on the ground, we have manufacturing facilities in coffee, in spices and edible nuts and they are distributed across the country.

"Fortunately, there have been no incidents at our facilities. We have tightened our security and security arrangements at our facilities. The government is also stepping in and dramatically increasing the security in special economic zones, and areas where our factories are located.

"So far, the situation is contained, and with the measures on the ground (taken by the government), we feel more confident that it won't spiral out of control."

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