COCA-COLA FEMSA Philippines will pursue its commitment to invest $1.2 billion in the country from 2015 to 2020, a Trade official said on Thursday.
“The Femsa group manifested strong investment confidence in the new President Rodrigo Duterte administration,” Trade Secretary Ramon Lopez told reporters.
“The investment will go toward funding new lines and distribution centers throughout Coca-Cola Femsa’s manufacturing and commercial footprints in the Philippines, therefore generating substantial employment and creating more micro-business opportunities in the company’s supply chain,” the Cabinet official noted.
The $1 billion in investment pledged under the Duterte administration is part of the $1.2-billion committed in 2015 – out of which $200 million was spend last year.
“Objectives of this new commitment are in line with the government’s poverty alleviation and inclusive growth agenda,” Lopez said.
In August 2015, the company committed to invest $1.2 billion until 2020 to expand its manufacturing facilities and beef up its Philippine distribution and operations.
RAADEE S. SAUSA