||Asean Affairs 6 June 2013
Coca-Cola bottled in Myanmar for first time in 60 years
Coca-Cola bottled its first bottle in Myanmar in more than 60 years on Tuesday in a ceremony attended by the company's CEO Muhtar Kent and former US Secretary of State Madelaine Albright.
“As we grow as a local business in Myanmar, we are committed to creating economic value and building sustainable communities,” said Kent at the Coca-Cola factory in Hmawbi Township in suburban Yangon.
The iconic soft drink manufacturer was one of the first US companies to announce its return to Myanmar following the relaxing of sanctions last year. It announced plans to invest US$200 million and create 22,000 jobs in the country over the next five years in partnership with local firm Pinya Manufacturing Co. Ltd in a statement released following the ceremony.
“We are excited to join our strong local expertise and passionate employees with the world’s number one brand and Coca-Cola’s world-class business capability," said Thureign Win, the vice chairman of Pinya Manufacturing Co. Ltd. "Together we have a positive future for our business, for our community and for the people of Myanmar.”
Last November, rival brand PepsiCo announced similar plans to open a plant in Myanmar.