Coca-Cola Chairman and Chief Executive Officer Muhtar Kent was in Ho Chi Minh City, Vietnam, last week to announce a $200 million investment in that country during the next three years.
"Vietnam is a very important growth market to The Coca-Cola Co.," Kent said in a statement. "We have already invested more than $200 million in Vietnam, and today in conjunction with our bottler, we have committed to invest additionally $200 million over the next 3 years. We are very optimistic about the future of our business here. We look forward to continuing to play a key role in the development of the economy and the community."
Coca-Cola cited studies that show the company generates 10 additional jobs in industries such as ingredients, packaging, distribution and retailing for every direct Coca-Cola employee in Vietnam. The company returned to the country in 1994, and has bottling plants in Ha Tay, Da Nang and Ho Chi Minh City. In addition to its carbonated soft drinks and Minute Maid products, the company offers local products such as Joy bottled water and Samurai energy drink.