Aug. 17 – Beverage and food giant PepsiCo Asia is committing to invest US$250 million in Vietnam to upgrade its manufacturing capacity in the next three years.
The company says it will also develop new products for the market. PepsiCo has new facilities in Binh Duong and Can Tho. Global multinational companies are expanding operations in emerging markets as a way of coping with slower demand in the United States and Europe.
PepsiCo entered the market in 1994 when the U.S. embargo to Vietnam was removed. It first entered a local joint venture with International Beverages Company to produce the first Pepsi-Cola and 7Up products in the country.
The Vietnamese operations became fully owned in 2003 falling under the management of PepsiCo Worldwide. The company currently hires 1,200 employees.
