Coca-Cola plans to invest $200 million in Bangladesh over a five-year period as it looks to grab a bigger market share of the country’s Tk 3,000 crore annual beverage market.
Coca-Cola Chief Operating Officer Brian Smith gave the updates on the plan after meeting Finance Minister AHM Mustafa Kamal at his secretariat office in Dhaka on 8th August.
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.
Brian Smith said Bangladesh is a potential market and Coca-Cola would expand its production to increase supply to rural areas. He told the minister that Coca-Cola would produce beverages with different levels of sugar in Bangladesh.
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.