WASHINGTON D.C. – At a luncheon hosted by the Potomac Exchange, a business organization of some of the top U.S. corporations, in honor of Philippine Ambassador to the U.S. Willy C. Gaa on 22 February 2007, Ambassador Gaa was informed by Coca-Cola VP Ms. Janet Howard of a US$590 million investment made by Coca-Cola in the Philippines.
According to Ms. Howard, the Coca-Cola
Company has acquired a 65% stake in Coca-Cola Bottlers Philippines, Inc.
(CCBPI) and has now full ownership of CCBPI. This investment indicates the
importance of the Philippines as a market for this corporate giant and of the
opportunities for growth of their operations in the country and in the region.
Gaa welcomed this latest development and
expressed his appreciation for Coca-Cola’s contribution to the development of
the Philippine economy and for their gesture of confidence on the business
environment of the Philippines. Gaa also took this opportunity to inform and
discuss with the members of the Potomac Exchange the political and economic
developments in the Philippines and said that “the Philippine economy has been
exhibiting very positive signs of growth in the past years and efforts are
being made to further enhance the business and investment environment in the
country."
The Mail RSS Feed.
