Coca-Cola to invest $300m in Vietnam
The Coca-Cola Company is set to invest $300m in Vietnam over the next three years to further tap growth opportunities in the nation.
With this, the total investment the American beverage major and its bottling partners committed in Vietnam from 2010 through 2015 will reach to $500m.
Coca-Cola chairman and CEO Muhtar Kent said: "Our continued investments in Vietnam underscore our commitment to building new infrastructure to support strong and sustainable growth, applying world-class marketing practices, creating new jobs, developing local talent, developing stronger partnerships with our local customers and investing heavily in the thousands of communities across Vietnam we proudly serve."
Coca-Cola Southeast Asia Indochina general manager Basil Sidky said: "It is our way of contributing to a more sustainable community, fostering innovation across our business and creating shared value for everyone we touch. It's something we're passionate about and committed to for the long-haul in Vietnam."
The Coca-Cola system in Vietnam employs approximately 2,000 people, of which 99% are local hires, at its three plants in Ho Chi Minh City, Da Nang and Hanoi.
The company has invested $1.5m since 2010 in a range of community projects in Vietnam, including clean water access projects, support to families in need, and aid in times of natural disaster through Red Cross Vietnam.
Over the last three years, the Coca-Cola Vietnam system has raised local manufacturing and distribution capacity with new filling lines and the installation of new cold-drink coolers with local customers.
Coca-Cola's brands in Vietnam include Coca-Cola, Coke Light, Sprite, Fanta, Real Leaf, Minute Maid Nutriboost, Minute Maid Teppy, Schweppes, Samurai and Dasani.