Nestlé to invest $43 million to launch a new production facility in western Ukraine as the country is dealing with the economic impact of Russia's invasion.
Former State Department official Christian Whiton discusses if parts of Europe are losing interest in the Russia-Ukraine conflict and how long it could last on 'Varney & Co.'western UkraineThe announcement makes Nestlé one of the few international companies to launch new investments in Ukraine since Moscow invaded the eastern European nation in late February.
"We aim to create a food and culinary hub, ensuring incremental jobs and serving the needs of Ukrainians and all European citizens with high quality products," the statement continued. Nestlé already has about 5,800 staff members in Ukraine and is planning to add 1,500 new jobs at the new production facility, which will be located in Smolyhiv in the Volyn region.
The announcement makes Nestlé one of the few international companies to launch new investments in Ukraine since Moscow invaded the eastern European nation in late February., which is projected to diminish by 35% this year, according to the International Monetary Fund.
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