PepsiCo, Purchase, N.Y., plans to invest $250 million in Vietnam during the next three years.
The new investment will be allocated to a variety of projects, including increasing manufacturing capacity, adding marketplace equipment like coolers, further strengthening existing brands and broadening the company's product portfolio via innovation. The investment is in addition to PepsiCo's investment during the past two years in two new manufacturing facilities, a new beverage plant in Can Tho and a new food plant in Binh Duong.
"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," said Saad Abdul-Latif, chief executive officer of PepsiCo Asia, Middle East and Africa, in a statement.
Abdul-Latif also highlighted PepsiCo's focus on providing more eating and drinking options for Vietnamese consumers. In addition to carbonated soft drinks, the company offers Tropicana Twister juice drinks, Aquafina waters, Lipton ready-to-drink teas, and two new isotonic drinks, 7-Up Revive and Sting Pro.
Abdul-Latif also recognized the work of local employees in the community, where PepsiCo is a large contributor to social causes such as healthcare and education.