GLOBAL: Coca-Cola Co to return to Myanmar
Coca-Cola has not trade in Myanmar for around 60 years
The Coca-Cola Co is planning to start trading in Myanmar, also known as Burma, where it has not had a presence for around 60 years.
The company said yesterday (14 June) that it plans to begin business in Myanmar as soon as the US government suspends investment sanctions against the country. Myanmar has recently taken steps towards democratic reform, after being ruled by a military junta since 1962.
Coca-Cola said that a licence for it to trade in the country is "imminent". The firm said it anticipates making "significant investments" in the country over the next three to five years, due to the lifting of sanctions.
"While some products will initially be imported from neighbouring countries, Coca-Cola plans to establish local business relationships and work with local customer partners as part of the long-term economic development of Myanmar," the company said in a statement.
Myanmar is currently only one of three countries in the world where Coca-Cola does not trade. The other two are Cuba and North Korea.
Meanwhile, Coca-Cola said its charitable giving arm, the Coca-Cola Foundation, is making a grant of US$3m to support women-focused job creation initiatives throughout the country.
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