Coca-Cola proposes fresh $200m investment in Bangladesh

[The Ronin]

The company seeks reduction in supplementary duties and VAT

Coca-Cola President and Chief Operating Officer (COO) Brian John Smith has said his company is keen to inject a fresh $200 million in Bangladesh over the next five years.

He also sought a reduction in supplementary duties and VAT (Value Added Tax) for his company's beverage products in the country.

John Smith placed the proposal at a meeting with Finance Minister AHM Mustafa Kamal at the latter's secretariat office on Thursday, said a finance ministry press release.

The finance minister said he would consider the proposal subject to investment in Special Economic Zones and enlistment of the company in the Stock Exchanges in Bangladesh, according to the press release.

The finance minister said Coca-Cola's fresh investment would help generate employment in the country, the press release added.

Coca-Cola operates business in Bangladesh under a subsidiary named International Beverages Private Ltd (IBPL). Coca-Cola appears to be one of the most popular beverages in Bangladesh.

In January this year, a senior official of the company had hinted about a fresh investment proposal of his parent company.

IBPL Managing Director Tapas Kumar Mondal told media: "We will be expanding in all areas, not only on the factory plant side but also in marketing and portfolio building."

He said the company's revenue turnover in Bangladesh stands at Tk2,500 to Tk3,000 crore.

Headquartered in Atlanta, Georgia, USA, the Coca-Cola Company was founded in 1886 by an Atlanta pharmacist, John Stith Pemberton.

The company's annual revenue in 2018 was $31.85 billion, with an operating income of $8.70 billion, and net income of $6.43 billion. The company's total assets are worth $83.21 billion as of 2018.

https://www.dhakatribune.com/bangla...-proposes-fresh-200m-investment-in-bangladesh

 

[Abu Shaleh Rumi]

I love Fanta...

 

[bluesky]

Coca-Cola President and Chief Operating Officer (COO) Brian John Smith has said his company is keen to inject a fresh $200 million in Bangladesh over the next five years.

Only a year ago Coca Cola built its first plant in/near Dhaka with a $50 million investment. It's great to see how the Cola company finds our people thirsty that propelled it to spend an additional $200 million in such a short period. Great!!!

 

[Michael Corleone]

I love Fanta...

As a kid, loved them. I prefer Coca Cola now

 

[Mage]

These drinks are dangerous for health. Even alcohol is probably healthier than these soft drinks

Drink water or sorbot. Or fruit juice without chemicals

 

[bluesky]

These drinks are dangerous for health. Even alcohol is probably healthier than these soft drinks

Drink water or sorbot. Or fruit juice without chemicals

Shorbot? Is it good to drink sugar mixed with red/blue color?

 

[Saiful Islam]

BD Coca Cola tastes good.

 

[KAL-EL]

Used to really like cherry Coke as a kid.

 

[mmr]

bd has already so many soft drinks of our local companies. but good coke is investing.

 

[bluesky]

bd has already so many soft drinks of our local companies. but good coke is investing.

Bad people in BD say our local Pran company uses extracts from the pumpkins, adds a little flavor, packs it nicely and names it Mango Juice. Many years ago when I drank it the last time it was priced at 32 Taka. There is no govt control over the falsifying of foods in BD everybody looks after his own interest by whatever method it likes.

Coca Cola will not falsify the ingredients of its products. By the way, thinking of the quality of WASA-supplied drinking water it is good that at least Coke/Fanta will be free of WASA germs and bacteria and will not be a source of Dengue fever.

However, as far as I remember the Coke taste was little sweet and there was short of soda. It was when bottling was done by a thief local company. Things should improve now that the main company itself will be producing. Hope, there will also be the production of sugar-free coke for diabetes patients.

 

[mmr]

Bad people in BD say our local Pran company uses extracts from the pumpkins, adds a little flavor, packs it nicely and names it Mango Juice. Many years ago when I drank it the last time it was priced at 32 Taka. There is no govt control over the falsifying of foods in BD everybody looks after his own interest by whatever method it likes.

Coca Cola will not falsify the ingredients of its products. By the way, thinking of the quality of WASA-supplied drinking water it is good that at least Coke/Fanta will be free of WASA germs and bacteria and will not be a source of Dengue fever.

However, as far as I remember the Coke taste was little sweet and there was short of soda. It was when bottling was done by a thief local company. Things should improve now that the main company itself will be producing. Hope, there will also be the production of sugar-free coke for diabetes patients.

I thought they already have diet coke in bd for long time.