Thursday, 14 June 2012 - 21:14
Coca-Cola Plans 'Significant Investments' in Myanmar Next 3-5 Years
By Nick vonKlock
Coca-Cola Co. (KO) plans to begin doing business in Myanmar as soon as the U.S. government allows companies to make investments there.
The company said in a statement on Thursday that it "anticipates making significant investments" over the next three to five years in Myanmar, one of only three countries it currently doesn't do business in, with the other two being Cuba and North Korea.
Coca-Cola, which hasn't done business in Myanmar in more than 60 years, said it will initially import products from neighboring countries before establishing local operations.
"Coca-Cola's 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, code of business conduct, and anti-bribery policies," the company said.
After years of house arrest, Myanmar's democracy icon, Aung San Suu Kyi, is on a landmark tour of Europe, calling for international investment in Myanmar. Her trip marks a new milestone in the political changes that have swept the country since decades of military rule ended last year, bringing to power a new quasi-civilian government.
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(END) Dow Jones Newswires
June 14, 2012 14:14 ET (18:14 GMT)
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