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Vietnam Investment News

Vietnam Business » Vietnam Investment News » PepsiCo invest 250 million USD in Vietnam

PepsiCo invest 250 million USD in Vietnam

PepsiCo, the worlds second largest food and beverage maker, revealed here on Monday that it would invest US$250 million in Vietnam over the next three years to scale up production at its operational facilities.

"Im pleased to announce that over the next three years we expect to invest US$250 million in our food and beverage businesses in Vietnam," said Saad Abdul Latif, CEO of PepsiCo in Asia, Middle East and Africa. Vietnam represents one of PepsiCos most exciting growth opportunities, he told a gala dinner held at the Sheraton Saigon Hotel & Towers. "This investment is a reflection of our confidence in this dynamic country and the talented people who live and work here." The huge sum will be allocated to different projects throughout the country to expand manufacturing capacity, further strengthen existing brands, and broaden the companys products portfolio, he said. The huge sum is on top of the companys investment over the past two years in a food plant in the southern province of Binh Duong and a beverages facility in the Mekong Delta city of Can Tho. The gala dinner was held to mark the 20-year operation of PepsiCo in Vietnam. Pham Phu Ngoc Trai, former president of PepsiCo in Indochina, who has worked for PepsiCo Vietnam in the past 20 years, noted the fast development of Vietnams beverages market. "We are here on Wednesday to look back on the very exciting and creative journey of PepsiCo Vietnam - a journey with lots of successes to remember as well as lots of valuable experiences to cherish in a span of nearly 20 years," Trai said. Trai added that among peers in the whole Pepsi Global system, for many consecutive years Vietnam had been a leading refreshment beverages market in terms of growth. Besides the investment announcement, Latif stressed PepsiCos continuous commitment to Vietnam, placing an emphasis on three aspects of social responsibility, namely talent, human and environmental sustainability. "We are always searching for and recruiting young local talents, and there is no reason to believe that these young people wont someday join PepsiCo Vietnams board of directors," he said. "Meanwhile, for environmental sustainability, we have reduced our water usage by a full 50% over the past three years." On the occasion, Latif and his colleagues honored the best partners of PepsiCo Vietnam during its 20-year operation in the country, including distributors, trading companies, and charitable associations. PepsiCo offers the worlds largest portfolio of food and beverage brands, including 19 different product lines that each generates more than US$1 billion in annual retail sales. Its main businesses - Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade - also make hundreds of other foods and drinks for consumers in more than 200 markets worldwide.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

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