Coca-Cola to open new bottling plant with $ 75mn investment Wednesday
Dhaka, Jan 17 – US Ambassador in Dhaka Marcia Bernicat on Tuesday said Bangladesh still needs to do many things to make it a more competitive destination for goods, services and investment.
“I recognise there’s still much to be done,” she said offering her government’s support to Bangladesh to that end.
Bernicat said she is eager to continue working with the American Chamber of Commerce (AmCham) and their partners in the government to address constraints to investment and trade in Bangladesh.The US envoy was addressing a reception at the US Embassy marking the 20th anniversary of AmCham in Bangladesh and opening of new chapter Coca-Cola’s history in the country as its new bottling plant here will formally be opened on Wednesday.
Commerce Minister Tofail Ahmed spoke at the function as the chief guest. President, Asia Pacific Group of the Coca-Cola Company John Murphy and AmCham President Nurul Islam also speak on the occasion.
Bernicat offered their support as the government of Bangladesh works to provide ‘badly needed’ new infrastructure here. “We offer our expertise to efforts to streamline bureaucratic regulations and governmental processes.”
She also said they remain committed to partnering with the government, private sector and NGOs to boost worker safety and enable them to exercise their rights to associate consistently with the internationally recognised standards.
“I look forward to continuing to work with AmCham, the American business community and our partners in the government of Bangladesh for the next 20 years and beyond,” Bernicat said.
About Coca-Cola, she said Coke has been described as arguably the most distributed product on the planet.
“Their new Greenfield plant in Bhaluka, Mymensingh, has provided more than $75 million in new foreign direct investment,” the US envoy said adding that the plant will create jobs here and increase US exports to Bangladesh.
Bernicat said the success of Coca-Cola’s new plant will be a clarion call to other American companies to look closer at Bangladesh’s emerging middle class to sell and invest here. “The expansion by Coke in Bangladesh is great news, as Coca-Cola is a model employer.”
Speaking at the function, Tofail Ahmed said trade and business relations between Bangladesh and the United States are excellent though Bangladesh does not get duty- and quota-free market access to the US.
He hoped that Bangladesh will be able to attract more foreign direct investment in the coming days and AmCham will play a role in this regard.
The two-way trade, including exports and imports, between the two countries has grown from $ 1.5 billion in 1996 to nearly $ 7 billion in 2015.
Unveiling their expansion plan in Bangladesh John Murphy said, “We’re strengthening our roots here in Bangladesh.”
Terming Bangladesh an emerging nation, he hoped that they can even bring more prosperity to Bangladesh and to the people here.
It is estimated that over 3 percent of all beverage consumed daily are trademarked or licensed by Coca-Cola.
The US Ambassador said the name ‘Coca-Cola’ is the second most understood word in the world, after ‘OK’.
She said Coke’s new investment in Bangladesh suggests confidence in this country’s growing consumer market. “I expect we’ll see many other global brands follow suit as awareness grows of the opportunities to sell Bangladesh’s sizeable population, including its rapidly growing middle class.” – UNB
