Prime Minister Pham Minh Chinh met with James Quincey, chairman and CEO of Coca-Cola Company, on September 20 in New York during the PM’s trip to attend the 78th session of the United Nations General Assembly.
Quincey thanked PM Chinh for his time and expressed how proud his company is to be a part of the Vietnamese community. Its strategy has been to expand its operations and make essential investments in Vietnam, with next year marking 30 years of operations in the nation.
After lifting its economic embargo in 1994, Coca-Cola was one of the first US companies to invest in Vietnam, and it now has three factories producing beverages in the country.
In Vietnam, the Coca-Cola system has partnered with more than one million retailers nationwide, creating 2,000 direct and 20,000 indirect jobs in the domestic labour market.
Coca-Cola has invested $136 million to build a new beverage factory in Long An, one of the biggest province in the Mekong Delta region.
This recent investment is one of Coca-Cola Vietnam’s key projects, reflecting a long-term commitment to the country’s economic development. The new factory has been designed to improve productivity by applying innovative production models and technology to optimise resource usage, and is expected to reach full production by 2026.
Coca-Cola also seeks to further its cooperation with Vietnam, aiming to develop sustainably with the country. The company hopes to drive growth while helping create a better future for both parties.
Coca-Cola’s sustainability initiatives focus on packaging, water usage, sustainable agriculture, the climate, its portfolio of beverage choices, and the people and communities it serves. As an example of its local efforts, Coca-Cola has partnered with The Ocean Cleanup to help kickstart a river cleaning drive in the Can Tho River.
The Coca-Cola Foundation, the company’s philanthropic arm, is helping drive positive change in terms of the circular economy while also mobilising its resources and strengths to promote practical initiatives to boost Vietnam’s socioeconomic development.
It has issued a total of more than $3.7 million in grants from 2018 to 2022, including $275,000 to the Vietnam Red Cross Society to help people impacted by the flooding in Danang in 2022, $339,000 to the Centre for Supporting Green Development from 2021 to 2022 to promote circular economy solutions to reduce marine plastic waste in Can Gio, and $289,000 to the World Wide Fund For Nature in 2021 and 2022 to enhance the water regulation services and the replenishment capacity of Tram Chim National Park and its buffer zone.
As a total beverage company, Coca-Cola is continuously investing in product innovation, diversifying its packaging options, and providing a wide portfolio of quality beverage products, which includes less-sugar and zero-sugar variants.
Since its inception in 1984, The Coca-Cola Foundation has awarded grants of over $1.5 billion as part of its mandate to strengthen communities around the world.
