HO CHI MINH CITY: Coca-Cola is set to spend an extra $200 million (€140m; £120m) in Vietnam, doubling the beverage giant's investment since it returned to the country in 1994. Extra marketing is expected to account for a large slice of the increased expenditure.
The new investment was announced by Coke chairman and CEO Muhtar Kent on a visit to Vietnam last week. Kent praised the country for its "creation of a more positive investment environment and high stable economic growth" despite the ravages of the global financial crisis.
"Vietnam is a very important growth market for Coca-Cola. 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," he added.
Coke currently employs 1,500 employees directly in Vietnam, but the company estimates it is creating more than 15,000 jobs around its three bottling plants in Ha Tay, Da Nang and Ho Chi Minh City.
Its brands in Vietnam include Coca-Cola, Sprite, Fanta and Diet Coke, and it has recently introduced Minute Maid Splash Juice, Joy bottled drinking water and the energy drink Samurai.
The new investment was announced by Coke chairman and CEO Muhtar Kent on a visit to Vietnam last week. Kent praised the country for its "creation of a more positive investment environment and high stable economic growth" despite the ravages of the global financial crisis.
"Vietnam is a very important growth market for Coca-Cola. 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," he added.
Coke currently employs 1,500 employees directly in Vietnam, but the company estimates it is creating more than 15,000 jobs around its three bottling plants in Ha Tay, Da Nang and Ho Chi Minh City.
Its brands in Vietnam include Coca-Cola, Sprite, Fanta and Diet Coke, and it has recently introduced Minute Maid Splash Juice, Joy bottled drinking water and the energy drink Samurai.
Data sourced from Media Asia; additional content by WARC staff
