Coca-Cola has set its eyes on Burma once again. The world’s number one soda company reportedly has plants and facilities all over the world except for Cuba and North Korea. Sixty long years after leaving Burma, the Cola-Cola Company has returned and is expected to stay. Burma has long awaited the legendary soda company’s comeback since it was forced to leave the country in 1988.
According to Coca-Cola executives, they are expecting to put in a total investment of $200 million over the years to come and help thousands of locals by providing job opportunities. Coca-Cola estimates that the capital investment in the new plant will generate a total of 22,000 employment opportunities in a span of five short years.
Burma re-opens to the world
Burma has been in a tough spot in the past few decades. In 1962, most US-based companies with branches in Burma left the country because of a military coup. The military government faced instability and uncertainty and more so when Washington applied economic sanctions in 1988 effectively banning most US companies with investment in the country.
President Thein Sein’s current administration has given Burma new hope. He is intent on recovering the country’s lost foreign investors over the course of the junta rule. Since Pres. Sein took the seat of power, a lot of foreign companies and investors have taken notice of the huge opportunities awaiting them in Burma.
First in line
With the ban lifted, Coca-Cola promptly jumped at the opportunity to get its roots re-planted in the country. Coca-Cola was one of the first U.S companies to be awarded an investment permit. The long-suffering country is now getting ready to open to more foreign investors by ironing its Foreign Investment Law.
Back in business
The ceremonial inauguration of Coca-Cola’s bottling plant in Burma was attended by CEO Muhtar Kent. According to Kent, building a local business in Burma will open a lot of doors not only for the company but for the locals as well. Kent was also being optimistic in saying that the soda company is very privileged to be part of Burma’s revitalized culture and economy.
The inauguration was also joined by Madeleine Albright of Albright Stonebridge Group, U Myint Swe of Yangon Region, and other Coca-Cola partners in Burma. According to the Vice-Chairman of Pinya Manufacturing Co. Ltd., joining the venture Coca-Cola has initiated in their country is a great honor. It is also very exciting for them to become part of the world’s number one soda company, giving them the chance to experience and benefit from its trade capabilities.
Coca-Cola looks ahead
The company is not only focused in establishing itself but it is also concerned about adhering to its commitments to the people of Burma. According to the Coca-Cola Foundation, it is closely working with a non-government organization called PACT. The aim of their collaboration is to offer a three-year program for more than 20,000 thousand Burmese women to gain business acumen. The program was already initiated last July 2012 and since then, a lot of women had started to build their own business.
Photo Credit: Coca-Cola Logo
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