Coca-Cola to start business in Myanmar. Can you name the two countries where Coke doesn’t have a presence?
Atlanta-based Coca-Cola announced Thursday that it is developing plans to begin business locally in Myanmar as soon as the U.S. government issues a general license allowing American companies to make investments, which is imminent.
Public domain photo/Dezzawong via wikimedia commons
According to the company’s press release, Coca-Cola has not done business in Myanmar for more than 60 years. To establish local operations, the Coca-Cola system anticipates making significant investments in Myanmar over the next 3-5 years. While some products will initially be imported from neighboring countries, Coca-Colaplans to establish local business relationships and work with local customer partners as part of the long-term economic development of Myanmar. The Company has a general practice of operating as a local business in every market it serves, including selling, distributing, manufacturing and hiring locally.
In addition, the philanthropic arm of Coca-Cola, The Foundation, announced plans to make social and economic investments in the rapidly changing country ofMyanmar, also known as Burma.
The Foundation is making a grant of US $3 million to support women’s economic empowerment job creation initiatives throughout the country.
The Coca-Cola Foundation has partnered with Pact, a non-governmental organization working to promote health, economic empowerment and food security in 26 developing countries, to support the development of a WORTH program in Myanmar. The WORTH program operates by gathering 20-25 women in small groups, across hundreds of villages, to develop community banks that lend money to fund business start-ups and entrepreneurial efforts.
By the way, after Coca-Cola starts doing business in Myanmar, the only two countries where they do not do business will be North Korea and Cuba.
