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| Saad Abdul Latif (R), CEO of PepsiCo in Asia, Middle East and Africa, hands a trophy to Nguyen Ngoc Hoa of Saigon Co.op, one of PepsiCo Vietnam’s biggest distributors, at the gala dinner held on Monday in HCMC - Photo: Le Toan |
“I’m pleased to announce that over the next three years we expect to invest US$250 million in our food and beverage businesses in Vietnam,” said Saad Abdul Latif, CEO of PepsiCo in Asia, Middle East and Africa.
Vietnam represents one of PepsiCo’s most exciting growth opportunities, he told a gala dinner held at the Sheraton Saigon Hotel & Towers. “This investment is a reflection of our confidence in this dynamic country and the talented people who live and work here.”
The huge sum will be allocated to different projects throughout the country to expand manufacturing capacity, further strengthen existing brands, and broaden the company’s products portfolio, he said. The huge sum is on top of the company’s investment over the past two years in a food plant in the southern province of Binh Duong and a beverages facility in the Mekong Delta city of Can Tho.
The gala dinner was held to mark the 20-year operation of PepsiCo in Vietnam. Pham Phu Ngoc Trai, former president of PepsiCo in Indochina, who has worked for PepsiCo Vietnam in the past 20 years, noted the fast development of Vietnam’s beverages market.
“We are here on Wednesday to look back on the very exciting and creative journey of PepsiCo Vietnam – a journey with lots of successes to remember as well as lots of valuable experiences to cherish in a span of nearly 20 years,” Trai said.
Trai added that among peers in the whole Pepsi Global system, for many consecutive years Vietnam had been a leading refreshment beverages market in terms of growth.
Besides the investment announcement, Latif stressed PepsiCo’s continuous commitment to Vietnam, placing an emphasis on three aspects of social responsibility, namely talent, human and environmental sustainability.
“We are always searching for and recruiting young local talents, and there is no reason to believe that these young people won’t someday join PepsiCo Vietnam’s board of directors,” he said. “Meanwhile, for environmental sustainability, we have reduced our water usage by a full 50% over the past three years.”
On the occasion, Latif and his colleagues honored the best partners of PepsiCo Vietnam during its 20-year operation in the country, including distributors, trading companies, and charitable associations.
PepsiCo offers the world’s largest portfolio of food and beverage brands, including 19 different product lines that each generates more than US$1 billion in annual retail sales. Its main businesses - Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade - also make hundreds of other foods and drinks for consumers in more than 200 markets worldwide.
