Coke returns to Myanmar

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Coca Cola moves back into Myanmar after a long absence due to sanctions

The Coca-Cola Company announced on Thursday, June 14, that it would return to Myanmar after a gap of more than six decades, leaving Cuba and North Korea as the only countries without the drink.

In an offical announcement, the company said  it “plans to make social and economic investments in the rapidly changing country of Myanmar.” First it would make a grant of $3 million to support women’s economic empowerment through job creation initiatives throughout the country. The company is also developing plans to begin business locally in Myanmar as soon as the US  government issues a general license allowing US companies to make investments, which is imminent.

Coca-Cola said its planned entry into Myanmar, following the suspension of sanctions, will be governed by its ‘well-established global standards for corporate ethics including strict adherence to its global human and workplace rights policy, supplier guiding principles, codes of business conduct and anti-bribery policies.’

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 three to five years. While some products will initially be imported from neighbouring countries, Coca-Cola plans to establish local business relationships and work with local 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.

There was no immediate news that Coke’s main competitor Pepsi also will be returning to Myanmar.

 

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Reading Time: 1 minute

Coca Cola moves back into Myanmar after a long absence due to sanctions

The Coca-Cola Company announced on Thursday, June 14, that it would return to Myanmar after a gap of more than six decades, leaving Cuba and North Korea as the only countries without the drink.

Reading Time: 1 minute

Coca Cola moves back into Myanmar after a long absence due to sanctions

The Coca-Cola Company announced on Thursday, June 14, that it would return to Myanmar after a gap of more than six decades, leaving Cuba and North Korea as the only countries without the drink.

In an offical announcement, the company said  it “plans to make social and economic investments in the rapidly changing country of Myanmar.” First it would make a grant of $3 million to support women’s economic empowerment through job creation initiatives throughout the country. The company is also developing plans to begin business locally in Myanmar as soon as the US  government issues a general license allowing US companies to make investments, which is imminent.

Coca-Cola said its planned entry into Myanmar, following the suspension of sanctions, will be governed by its ‘well-established global standards for corporate ethics including strict adherence to its global human and workplace rights policy, supplier guiding principles, codes of business conduct and anti-bribery policies.’

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 three to five years. While some products will initially be imported from neighbouring countries, Coca-Cola plans to establish local business relationships and work with local 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.

There was no immediate news that Coke’s main competitor Pepsi also will be returning to Myanmar.

 

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