Coke on sale in Burmese shops
- Written by Mizzima News
- Category: Investment
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A symbol of the West hit the shelves of Rangoon this week, making its appearance for the first time in 60 years, said company officials.
Rival PepsiCo Inc. also said last month that it had arranged to sell some of its drinks in Burma, setting the stage for competition in who can capture the largest market share in a country of around 60 million people.
“In every nation and city where we do business, our employees strive to create economic value and build sustainable communities. We are privileged to once again have the opportunity to play a role in building a better future with the people of Myanmar,” Muhtar Kent, chairman and CEO, who was in Rangoon to oversee the delivery, said in a statement.
Coke, the world's largest soft drink maker, said it is working toward establishing a bottling facility in the country with its local partner, Pinya Manufacturing Co., which intends to start local production as soon as possible, it said.
In June, Coca-Cola announced a $3 million grant from its charitable foundation to a nongovernmental organization to support women's economic empowerment and job creation throughout Burma.
According to a Sept. 6 statement on the website of Burma’s President Thein Sein, Coca-Cola is projected to invest $100 million in Burma over the next three years, creating jobs for nearly 2,000 local people.
A Coke spokesman said it was still too early to say exactly how much the company would spend. He said the plan is to invest “significant capital” over the coming years in Burma.