Business

Wow! Coca-Cola investing P1.1B more in PH

Beverage giant Coca Cola Company pledged to invest an additional $22 million (around P1.1 billion) in its Philippine operations, reaffirming its vote of confidence in the country despite growing fears over the fast-spreading coronavirus.

The new investment, which will go to new production facilities as well as people development, is in addition to the $73 million allocated for this year.

This brings the group’s total investment in the Philippines to over $95 million for the year.

CCBPI said the additional investment was in line with efforts to help restart the Philippine economy and create jobs for Filipinos.

“We remain confident in the Philippine economy, and this additional $22M investment is testament to our faith that the Filipino people can look to a better tomorrow,” said Gareth McGeown, president and CEO of CCBPI.

“Throughout our journey of over a century in the Philippines, Filipinos have helped us grow, and we are as committed as ever to supporting our people, customers, and communities, especially given the challenges we are facing. We are doing what we can to help make sure that the Filipino trait of resilience can shine through,” he added.

One of the country’s major employers, CCBPI has 19 manufacturing plants and over 70 sales and distribution offices.

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