PepsiCo to Invest $ 250 Million in Vietnam over Next Three Years

HO CHI MINH CITY, Vietnam, Aug 16 PepsiCo, the world’s second largest food and beverage business, today 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 Mr. 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.

Mr. 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 Mr. 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. Our 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. With annualized revenues of nearly $ 60 billion, PepsiCo’s people are united by our unique commitment to sustainable growth, called Performance with Purpose. By dedicating ourselves to offering a broad array of choices for healthy, convenient and fun nourishment, reducing our environmental impact, and fostering a diverse and inclusive workplace culture, PepsiCo balances strong financial returns with giving back to our communities worldwide. For more information, please visit www.pepsico.com.

Source: PR NewsWire