Retail in Asia

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Coke plans investment in Myanmar

Coca-Cola is planning to begin doing business in Myanmar, one of just three countries – along with North Korea and Cuba – where the US beverage group does not operate. The world’s largest beverage company by revenues said on Thursday that once the US government gives it a general license to do business there, it will begin making "significant" investments across the country during the next three to five years.

Coke also said that its charitable arm would make a USD3 million investment to promote employment among women across Myanmar.

The move comes as Myanmar’s new government has been moving quickly to liberalise its economy after decades of oppressive military rule and looking to lure western companies to make investments.

(Source: CNBC)