Coca-Cola to invest $200m in Bangladesh over five years
DHAKA (The Daily Star/ANN) - One of the top beverage brands in the world, Coca-Cola, eyes to grab a bigger share of the country’s beverage market.
Coca-Cola plans to invest $200 million in Bangladesh over a five-year period as it looks to grab a bigger share of the country’s Tk 3,000 crore annual beverage market.
The development comes after Coca-Cola Chief Operating Officer Brian Smith met with Finance Minister AHM Mustafa Kamal at his secretariat office in Dhaka on Thursday.
He urged the minister to reduce the existing supplementary duty and value-added tax, and in response Kamal urged the Coca-Cola president to increase investment in Bangladesh and get listed on the stock market.
One of the top beverage brands in the world, Coca-Cola catered to Bangladesh’s market through franchisee and contract packaging before it opened its own plant in Bhaluka, Mymensingh for $74 million in January 2017.
Abdul Monem is its bottler; it also distributes Coca-Cola products in some parts of the country.
Coca-Cola has more than 500 brands and operates in more than 200 countries.