PepsiCo has announced plans to invest US$250m in Vietnam over the next three years

PepsiCo has announced plans to invest US$250m in Vietnam over the next three years

PepsiCo has announced plans to invest US$250m in Vietnam over the next three years.

The firm said today (16 August) that the investment in its food and beverage business will be allocated across a variety of projects, including upping production capacity, adding marketplace equipment, strengthening existing brands and broadening the company's product portfolio via innovation.

Saad Abdul-Latif, CEO of PepsiCo Asia, Middle East and Africa, said: "Vietnam represents one of PepsiCo's most exciting growth opportunities, and this investment is a reflection of our confidence in this dynamic country and the talented people who live and work here."

The spend is in addition to PepsiCo's investment over the past two years in two new manufacturing facilities, a new foods plant in Binh Duong and a beverages plant in Can Tho.

In May, PepsiCo announced an investment of US$2.5bn in its food and beverage businesses in China over the next three years.