VIETNAM: Coca-Cola Co to pump US$300m into Vietnam
Coca-Cola Co has high hopes for Vietnam
The Coca-Cola Co has lined up a further US$300m to spend in Vietnam in the next three years.
The company confirmed earlier today (26 October) that it will invest the funds to help it “further capture growth opportunities in one of the world’s major emerging consumer markets”. The move full-stops a successful week for the soft drinks markets of Asia, with PepsiCo opening its first joint production site with Tingyi in China and pledging a US$600m cash injection into its operations in Thailand.
Specific details about what Coca-Cola will use the funds for were not disclosed.
“Vietnam is an important growth market in Asia Pacific as we work to achieve our 2020 Vision goal of doubling system revenues this decade,” said Coca-Cola's chairman & CEO, Muhtar Kent.
“This new financial commitment is … an important acknowledgement of our belief in the long-term potential of this key market.
“Our continued investments in Vietnam underscore our commitment to building new infrastructure to support strong and sustainable growth, … developing stronger partnerships with our local customers and investing heavily in the thousands of communities across Vietnam we proudly serve.”
Today's news brings the amount invested in Vietnam by Coca-Cola and its bottling partners from 2010 to 2015 to around $500m.
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