Coca-Cola to invest more in Bangladesh
The Coca-Cola Company is going to invest more in Bangladesh to expand its footprint, encouraged by growing demand for beverages and steady economic growth of the country, said a top official recently.
“You will come to know about our next plan of investment very soon. We are working on it. We want to invest continuously,” said Tapas Kumar Mondal, managing director of International Beverages Private Ltd (IBPL), Bangladesh, a subsidiary of The Coca-Cola Company.
“We will be expanding in all areas, not only in plant but also in the market and portfolio.”
He made the disclosure in an interview with The Daily Star last week on the occasion of Coca-Cola completing one year since setting up its plant in the country to cater to the growing beverage market, estimated to be Tk 2,500-Tk 3,000 crore annually.
One of the top beverage brands in the world, Coca-Cola catered to Bangladesh's market through franchisee and contract packaging before it opened its own plant on January 18, 2017. Abdul Monem Ltd is still its bottler and the local conglomerate also distributes Coca-Cola products in some parts of the country.
Coca-Cola, which has over 500 brands and operates in more than 200 countries, has invested $74 million to establish the plant in Bhaluka, Mymensingh and developed other infrastructure.
IBPL's plant runs two lines producing 600 bottles of Kinley, a drinking water brand of Coca-Cola, and 720 bottles of Coke brands per minute.
Coca-Cola, the second largest player in the carbonated beverage market in Bangladesh after PepsiCo, is a very established company in the country. It employs more than 500 people, while 5,000 more are working with it indirectly.
Since the launch of the bottling plant, the US soft-drink maker has introduced four brands, including Coke Zero and Sprite Zero, and recently launched a spice flavoured drink, locally known as jeera pani.
In the first year of the plant's operation, the company launched Kinley to tap the big bottled water market. Mondal said the company was investing a lot on coolers to deliver chilled products. Other players are also investing.
“The market has capacity to expand. This is a big advantage,” he said, adding that the economic growth and the overall stability also act as an advantage.
“It is a growing economy. You can see the economic indicators have been very positive for the last five years. And it is continuing. So, everybody has got a positive mindset and spending habit is rising.”
Mondal also talked about Coca-Cola's activities under corporate social responsibility. It provides uniforms to nearly 600 school students and has opened a community centre for medical check-ups at the bottling plant area. He shared his experience and views on investing in Bangladesh.
“This is a right place to invest as the economy is growing, income and spending are rising and people are very welcoming. So, you get a good prospect of the overall economy. We have established a plant and we have not faced any hindrance,” he said.
Mondal advised prospective investors to understand Bangladesh and its economy. “How many countries do have such a high rate of economic growth?” he questioned.
Mondal said it was not difficult to get permissions to make the investment for the plant. “If you follow due procedures, you can get it done,” he said, “We got all the licences on time and all of our processes done.”
However, it may take some time to complete all the processes, he said, adding that Coca-Cola has got 29 licences.
The carbonated soft-drink maker has received support from all authorities involved, according to Mondal, who has 29 years of experience in supply chain of products ranging from tyres and paints to beverage.
The Indian national has been working in Bangladesh since July 2009 and is full of praise of the country and its people.
“After I arrived in Dhaka and checked in a hotel, I came to realise that this place is amazing. People are warm and very welcoming and this hospitality is beyond my expectation. I didn't feel that I was away from home.”
Mondal said he had initially faced challenges in hiring people. He said many had refused to appear in interviews saying this could not be Coca-Cola Company since interviews were taking place in a hotel.
“At that time, people did not believe that I am from Coca-Cola Company. From that challenging moment we have now become a full-blown company,” he said.
Read more: https://www.thedailystar.net/business/coca-cola-invest-more-bangladesh-1525339
- 春季最幸福的呷胖行動【烘焙月‧滿額抽】開跑囉！ 台北國際烘焙暨設備展 / 2019-02-12
- 【Touch Taiwan】祝您新春愉快，諸事大吉．Happy Chinese New Year! 智慧顯示與觸控展覽會 / 2019-01-30
- 【免费派车】组团参观CTEX即享免费派车接送服务 華東電路板暨表面貼裝展覽會 / 2019-01-28
- 2019 車用顯示與資訊娛樂系統專區 ! 現正報名中! 智慧顯示與觸控展覽會 / 2019-01-23
- ATLife 2019 力邀全球潛力企業、買主與會 台灣輔具暨長期照護大展 / 2019-01-22
- 烘迷們注意！首波好康釋放，限量贈票！(已索票完畢) 台北國際烘焙暨設備展 / 2019-01-21
- 來自【全球BIO生技協會總裁暨執行長】的問候 台灣生技月 生物科技大展 / 2019-01-16
- 2019真空技術應用，聚焦顯示器與光電產業 智慧顯示與觸控展覽會 / 2019-01-10
- 【把握限量席位】ATLife 2019臺灣輔具暨長期照護大展 迎戰全球長照新時代! 台灣輔具暨長期照護大展 / 2019-01-07
- [早鳥優惠最後五天!] 長照商機湧現 2019臺灣輔具暨長期照護大展(ATLife)開創長照新契機 台灣輔具暨長期照護大展 / 2018-12-26
- 2019 商用顯示與數位看板應用，主題專區現享早鳥優惠! 智慧顯示與觸控展覽會 / 2018-12-14
- 【2018時空咖啡館】義賣豆收入全數捐贈！ 台灣國際咖啡展 / 2018-12-10
- 每日限量優惠-更正啟事 展昭高雄寵物用品展-獨霸場 / 2018-12-05
- 展館交通資訊看這裡 展昭高雄寵物用品展-獨霸場 / 2018-12-04
- 開展倒計時 ⏰ 索票看這裡 展昭高雄寵物用品展-獨霸場 / 2018-11-30
- 【早鳥優惠倒數!】ATLife 2019臺灣輔具暨長期照護大展 開創長照產業新契機 台灣輔具暨長期照護大展 / 2018-11-21
- VTG 2018- the Most Integrated Platform Maximum Your Visiting Experience in Once 越南國際紡織暨製衣機械展 / 2018-11-20
- 【逛展天天抽】開獎名單-最終更新 台灣國際咖啡展 / 2018-11-19
- VFM- Launching Edition of Footwear Machinery Boost with United Platforms 越南國際紡織暨製衣機械展 / 2018-11-19
- 真正100%無穀、好吸收的飲食新提案 就從Livin'Wild 野宴開始～ 展昭高雄寵物用品展-獨霸場 / 2018-11-19