Coke to invest $300m in Vietnam30 October 2012
The Coca-ColaCompany has announced a new system investment of US$300 million over the next three years in Vietnam to further capture growth opportunities in one of the world's major emerging consumer markets.
The stepped-up investment, commencing in 2013, will bring to US$500 million the total investment that The Coca-Cola Company and its bottling partners have committed to Vietnam from 2010 through 2015.
"Vietnam is an important growth market in Asia Pacific as we work to achieve our 2020 Vision goal of doubling system revenues this decade," said Muhtar Kent, chairman and CEO, The Coca-Cola Company during a visit to Hanoi. "Vietnam's economy has maintained healthy growth in recent years and this new financial commitment is more than an investment in Coca-Cola's expansion in Vietnam, it is also an important acknowledgement of our belief in the long-term potential of this key market. 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."
Through investments completed during the last three years, the Coca-Cola Vietnam system has increased local manufacturing and distribution capacity with new filling lines and the installation of new cold-drink coolers with local customers, helping local businesses boost beverage sales. The company's most popular beverages in Vietnam include sparkling brands Coca-Cola, Coke Light, Fanta and Sprite, and still brands Minute Maid Teppy, Minute Maid Nutriboost, Samurai, Real Leaf and Dasani.
The system also directly created 500 new jobs locally in Vietnam, with 99% of its total labour force filled by local Vietnamese employees. These direct jobs then generated an estimated additional 5,000 job opportunities in supporting industries.
Coca-Cola also has continued to invest heavily in building sustainable communities in Vietnam with approximately US$1.5 million dedicated to local projects since 2010. These projects have included watershed conservation in partnership with the World Wildlife Fund (WWF), specific disaster relief programs in conjunction with Red Cross Vietnam and Coca-Cola's "Clean Water for Community" initiative alongside UN-Habitat and CEFACOM, which has provided 10,000 Vietnam residents with access to clean water in 2012 alone.
"We are committed to integrating sustainability into everything we do," said Basil Sidky, Indochina general manager of Coca-Cola Southeast Asia. "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."
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