Coca-Cola to invest $200 million

Its COO shares plan with MoI

FE Report | Published: August 09, 2019 10:40:47 | Updated: August 11, 2019 12:05:26

File Photo (Collected)

Coca-Cola has planned to invest US$ 200 million in Bangladesh in the next five years. Of the total amount, the multinational soft drinks manufacturing company will invest $ 50 million by next year.

A six-member delegation, led by Brian Smith, President and Chief Operating Officer (COO) of Coca-Cola, shared the plan at a meeting with Industries Minister Nurul Majid Mahmud Humayun.

The meeting was held at the Ministry of Industries (MoI) in the capital on Thursday, said a press release of MoI.

During the meeting the industries minister requested the delegation to give a specific proposal about their investment to the MoI, so that the government can extend all necessary cooperation to them.

The minister also proposed the company to invest in supplying other drinking products, like safe bottled-water, in Bangladesh.

The delegation urged him to offer some facilities, including reduced rate of taxes, for the company.

Brian Smith said Bangladesh is a prospective market for Coca-Cola, as apart from beverage drinks it produces different types of drinks.

The company will produce Coca-Cola with different sugar levels for Bangladeshi consumers. It will increase production capacity to expand supply chain of the beverage item to the country's rural and suburban areas, he added.

MoI Secretary Md Abdul Halim said Bangladesh has a large market, and consumption of people here is increasing gradually.

Bangladeshi people are enthusiastic to taste new products, he added.


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