Ha Noi People’s Committee has allowed Coca-Cola Viet Nam Company to raise its investment capital to US$580 million in Viet Nam.

According to a licence granted to the American firm on Tuesday, Coca-Cola Viet Nam will increase its production scale and annual capacity to 790 million litres by 2024 and 1,215 million litres by 2030. The operation period will be limited to 50 years.Coca-Cola Viet Nam Company began investing in Ha Noi in 1994, with its first project launched in Thuong Tin District.

The United States has 103 projects licensed in the capital city with total registered investment capital of $239.3 million, about 1 per cent of the total foreign direct investment in the city. These projects are mainly in the fields of production, of which engineering occupies the highest volume with 31.3 per cent of total registered capital.

Addressing the ceremony, the chairman acknowledged the contributions of US investors, including Coca-Cola Vietnam to socio-economic development in Hanoi.Hanoi will support investors, Chung said, pledging that the city will create favourable conditions for the development of Coca-Cola Vietnam.In 2016, Hanoi recorded GRDP growth of 8.2 percent and received 3.11 billion USD from foreign investment, almost tripling the 2015 figure.The US has 103 licensed projects in Hanoi, with a total registered capital of 239.3 million USD, accounting for one percent of the city’s FDI.Coca-Cola Vietnam started its operation in Duyen Thai commune, Thuong Tin district, Hanoi in 1994.
Source:Vietnam news