The Coca-Cola Company from the United States has announced it is planning to open a factory in Laos, but did not give a timeframe as to when exactly the factory will be established. Chairman and Chief Executive Officer (CEO) of the Coca-Cola Company Muhtar Kent announced the plan during a working breakfast on September 24 in New York, USA, on the sidelines of the 65th General Assembly of the United Nation. Laos Minister to the Presidential Palace Mr Phongsavath Boupha, who represents Lao President Mr Choummaly Sayasone and other Lao delegates, attended the working breakfast organized by the US-Asean Business Council. The two agreed that Asean is a region full of stability with a high potential for international investors who seek a positive climate for trade and investment activities. Asean is the fifth biggest trade partner and fourth biggest export market of the US. The value of trade and investment between Asean and the US reached US$200 billion and US$153.3 billion respectively in 2008. The Coca-Cola Company is best known for its flagship drink Coca-Cola, invested in 1889. Currently the company has more than 400 brands in over 200 countries and serves 1.6 billion serving each day.
Source: Vientiane Times
