VietNamNet Bridge - President of Coca-Cola, Mutar Kent said the company would continue to pour $ 300 million into Vietnam in next three years, bringing the total investment capital on the market to half a billion dollars in the next five years.

This information was released by President and CEO of Coca-Cola made at a press conference last week in Hanoi, during his business trip to Vietnam.

According to Mutar Kent, the investment worth $ 300 million will primarily be used to upgrade the production efficiency of Coca-Cola plants in Vietnam (Hanoi, Da Nang and Ho Chi Minh City).

Coca-Cola will also use the funds to strengthen brand advertising and support retails. Not giving the number of jobs that this investment could create, but Mr. Kent said Coca-Cola has about 2,000 direct employees in Vietnam. Each employee creates about 10 indirect jobs in supporting industries.

The president of Coca-Cola also said that Vietnam has great potential for the non-alcoholic beverage industry. The purchasing power here is only equivalent to 20 percent of the average of the world. Earlier, during his visit to Vietnam in 2009, Mutar Kent also announced the $ 200 million investment by Coca-Cola in Vietnam in the period 2010 - 2012.

Coca-Cola was in Vietnam for the first time in 1960. Between 1995 and 1998, respectively three joint venture companies were established in the North, Central and South Vietnam. In 2001, the three joint ventures were merged in the Coca-Cola Beverage Co., based in Ho Chi Minh City. Since 2004, Coca-Cola Vietnam has been transferred to Sabco, one of the Coca Cola’s reputed bottled groups in the world.

Muhtar Kent was born in 1952 in the United States. He was appointed as CEO of Coca-Cola in July 2008 and became Chairman of this group in April 2009. He is also a member of the US- ASEAN Business Forum.

Compiled by M. Lan