ASEAN KEY DESTINATIONS
PepsiCo to invest US$250M in Vietnam
Saad Abdul-Latif, CEO of PepsiCo Asia, Middle East and Africa, said Vietnam is one of the company's biggest growth opportunities.
The company, based in Purchase, N.Y., said in a news release it will spend the money to boost manufacturing capacity, add coolers at stores, and create new products.
In the past two years, the company has already built a new food plant in Binh Duong and a new beverages plant in Can Tho.
Soft drink makers are expanding in international markets as they face slumping demand in the U.S. Last year, rival Coca-Cola Co. announced its plan to invest an additional $200 million in Vietnam in three years. That was on top of $200 million the company had spent in Vietnam since returning there in 1994.
Shares of PepsiCo fell 33 cents to $65.23 in late morning trading Monday. (tags: investment, PepsiCo, Vietnam)
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