Coca-Cola Starts Local Production in Myanmar
For the first time in more than 60 years, Coca-Cola is being bottled in Myanmar. Muhtar Kent, chairman and CEO of The Coca-Cola Company, today attended the ceremonial inauguration of a bottling plant in Crystal Springs, Hmawbi Township.
The facility is the first to locally bottle Coca-Cola since the company re-entered Myanmar last year.
“As we grow as a local business in Myanmar, we are committed to creating economic value and building sustainable communities,” said Kent. “For the people of Myanmar, Coca-Cola embodies the optimism of a bright future, with the promise of better days and better lives ahead. We are privileged to be a part of their journey.”
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After the lifting of sanctions, The Coca-Cola Company became one of the first U.S. companies to be awarded an investment permit under Myanmar’s new Foreign Investment Law.
The inauguration of the Coca-Cola plant is a tangible demonstration of Coca-Cola’s planned $200 million investment over the next five years. The capital investment will increase production capacity, grow logistics including sales and distribution operations, and improve marketing and people capabilities.
Through its local presence, The Coca-Cola Company will contribute to Myanmar’s economic and social success by investing in local manufacturing, employing local people, engaging local suppliers and distributors and supporting community investment programs.
This investment will stimulate job creation and Coca-Cola estimates that it will create more than 22,000 job opportunities across the entire value chain over the next five years.