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Jan 26, 2017 / 11:44

Hanoi presents extended investment license over 12.21 trillion VND for Coca-Cola

Translated by Thu Minh

Hanoi People’s Committee Chairman Nguyen Duc Chung granted the adjusted investment license of 50 years to Coca-Cola Vietnam to Vamsi Moha, Chairman of Coca-Cola in Indochina and Myanmar on January 24 .

 
Hanoi People’s Committee Chairman Nguyen Duc Chung presents the adjusted investment license of 50 years to Coca-Cola Vietnam
Hanoi People’s Committee Chairman Nguyen Duc Chung presents the adjusted investment license of 50 years to Coca-Cola Vietnam. Photo by Anh Quy.
According to the adjusted investment  license, Coca-Cola Vietnam will double its investment to more than 12.21 trillion VND (537.37 million USD) and produce 790 million litres and over 1.2 billion litres per year by 2024, and 2030, respectively.
Speaking at the ceremony, Chairman Chung highlighted the contributions of US investors, including Coca-Cola Vietnam to socio-economic development in Hanoi.
The company’s adjusted investment  license plays the significant role in attracting foreign direct investment of Hanoi, while confirming the stable development of Coca-Cola Vietnam as well as its long-term investment commitments in the country, Chung noted.
At the granting ceremony.
At the granting ceremony. Photo by Anh Quy.
Hanoi will support investors, he said, pledging that the city will create favourable conditions for the development of Coca-Cola Vietnam.
According to Chairman Chung, 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 city had nearly 23,000 newly-established enterprises, an increase of 18% in the number  and 65% rise of registered capital compared to 2015.
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.
The Hanoi leader said that Hanoi always considers the US as an important and strategic partner. The two sides should further promote  investment cooperation, he  said.
Coca-Cola Vietnam started its operation in Duyen Thai commune, Thuong Tin district, Hanoi in 1994.

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