This was revealed in a statement from Amrish Rungta, vice chairman of Food Empire Holdings, in a meeting with Pham Anh Tuan, Chairman of Binh Dinh People's Committee, on June 14.

Food Empire Holdings is a listed company with a turnover of more than $250 million and is the leader in many countries for coffee and coffee products. The company has set up a manufacturing facility in India to produce beverages, instant coffee, confectionery, and convenience food and its products are sold in more than 60 countries.

"The group is looking for an opportunity to develop an instant coffee processing factory covering an area of 8 to 10 hectares with an investment of $80 million. We hope to learn more about potential sites, investment procedures, and local utility services," said Rungta.

"Binh Dinh offers the best conditions as it boasts inter-regional connectivity, an airport, seaports, and railways. In addition, the Becamex Vietnam-Singapore Industrial Park, among others, has been developed with modern infrastructure and services to help firms kick-start their production," said Tuan, urging Indus Coffee to implement the project in Binh Dinh soon.

According to data from Binh Dinh Department of Planning and Investment, the province has 89 foreign-invested projects valued at over $1.18 billion. Singapore is one of the biggest investors in the locality, with investments totalling more than $163 million.