PepsiCo, the world's second largest food and beverage business, on August 16 announced that it plans to invest US$250 million in Vietnam over the next three years.
"I am pleased to announce that over the next three years we expect to invest $250 million in our food and beverage businesses in Vietnam," said Saad Abdul-Latif, chief executive officer of PepsiCo Asia, Middle East and Africa, to a gathering of employees, business partners and community leaders in Ho Chi Minh City. "Vietnam represents one of PepsiCo's most exciting growth opportunities, and this investment is a reflection of our confidence in this dynamic country and the talented people who live and work here."
The new investment will be allocated to a variety of projects, including increasing manufacturing capacity, adding marketplace equipment like coolers, further strengthening existing brands and broadening the company's product portfolio via innovation. The investment is in addition to PepsiCo's investment over the past two years in two new manufacturing facilities, a new foods plant in Binh Duong and a new beverages plant in Can Tho.
Abdul-Latif also highlighted PepsiCo's commitment in Vietnam to the company's Performance with Purpose agenda of achieving business success while making a positive imprint on society. He cited the company's move to provide more eating and drinking options for Vietnamese consumers. In addition to carbonated soft drinks, the company offers Tropicana Twister juice drinks, Aquafina water, Lipton ready-to-drink tea, and two new isotonic drinks, 7-Up Revive and Sting Pro. And the company's Poca brand snacks line includes a range of nut-based snacks. He also hailed the work of local employees in the community, where PepsiCo is a large contributor to social causes such as healthcare and education.
"I am most proud of the corporate social responsibility initiatives undertaken by our team here," remarked Abdul-Latif. "While we are focused on developing our business and our people, we are equally committed to being an exemplary corporate citizen of Vietnam."
About PepsiCo
PepsiCo offers the world's largest portfolio of billion-dollar food and beverage brands, including 19 different product lines that each generates more than $1 billion in annual retail sales. The company’s main businesses – Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade – also make hundreds of other nourishing, tasty foods and drinks that bring joy to our consumers in more than 200 countries.
