- News in Vietnam
- 7 October 2022
Coca-Cola about to kick off $136 million factory in Long An
In a recent meeting with Long An province, General Director of Coca-Cola Vietnam Beverages Co., Ltd. – Peeyush Sharma said that with a long-term commitment to investment in Vietnam, the company is preparing for construction work of a factory in Long An province with an area of 19ha, and a total investment as much as $136 million.
According to company managers, this is Coca-Cola’s largest factory in Vietnam, applying smart factory model and modern techniques. At the same time, the Company will accompany the province in other community activities.
Speaking at the meeting, Chairman of the Provincial People’s Committee – Nguyen Van Ut expressed his pleasure that Coca-Cola Vietnam Beverages Co., Ltd. has chosen Long An province as a long-term investment destination.
He affirmed that the province has committed to always accompanying, supporting and creating optimum conditions for investors and businesses to carry out procedures to quickly and smoothly deploy and operate the project.
From the initial investment of $163 million to $200 million, Coca-Cola has continuously increased its investment in Vietnam. It is known that the factory to be built in Long An is also Coca-Cola’s fourth factory since this business started investing in Vietnam in 1994.
During 2012, Coca-Cola invested another $200 million. Then, in the period 2013-2015, Coca-Cola continued to pour another 300 million USD into Vietnam. Another $285 million was invested by Coca-Cola in the recent period.
As of 2017, the total investment capital of Coca-Cola poured into Vietnam has exceeded 1 billion USD. According to a representative of the Management Board of Long An Economic Zone, this locality currently has 37 industrial parks with a total area of nearly 12,300 hectares. In the first 6 months of 2022, industrial parks have attracted 59 new projects, including 25 FDI projects with a total investment of nearly 250 million USD.
Notably, in addition to Coca-Cola’s factory project in Phu An Thanh Industrial Park, numerous large-scale projects have been invested with “huge” investment capital such as Xenia 1&2 industrial development project in Xuyen A Industrial Park (Duc Hoa district) with investment capital of more than 3,000 billion dong; Win Lock 2A&2B industrial development project in Vinh Loc Industrial Park (Ben Luc) with a capital of more than VND 3,100 billion…
According to data from the Ministry of Planning and Investment, Long An is in the top 10 provinces and cities attracting the most FDI inflows in the first nine months of 2022. Specifically, this locality has attracted 665 million USD for more than 40 FDI projects and is becoming a new flashpoint in attracting investment.