Coca-Cola Announces US$300 Million Investment for Strong and Sustainable Growth in Vietnam
New Infrastructure, Jobs, Partnerships, Brand Building, Sustainability Programs Underline Vietnam Commitment
HANOI, Vietnam--(BUSINESS WIRE)-- The Coca-Cola Company today 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 percent of its total labor 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."
About The Coca-Cola Company
The Coca-Cola Company (NYS: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, our Company's portfolio features 15 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit www.thecoca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo or visit our blog at www.coca-colablog.com.
About The Coca-Cola Vietnam System
Coca-Cola is one of the most well-known international brands 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. 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. The Coca-Cola Vietnam system puts sustainability goals at the heart of its business by providing safe and healthy workplaces for its employees and prioritizes providing employees with opportunities for training and development. Sustainability programs are driven by clear goals of energy saving, water-use efficiency and water replenishment. The system continues to help build sustainable communities wherever it operates. Coca-Cola has invested US$1.5 million 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.
The Coca-Cola Company
Petro Kacur, +01 404.676.2683
Joanna Price, 86-21-6192-8686
KEYWORDS: United States Viet Nam Asia Pacific North America Georgia
The article Coca-Cola Announces US$300 Million Investment for Strong and Sustainable Growth in Vietnam originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.