PNG Heading Towards An Upward Trend: Coca-Cola
While many in the economy have highlighted much of the challenges facing it, major global brand Coca-Cola, has attributed its optimism in the country lies in trends that determines its investment decisions to continuing developing in PNG.
Regional managing director of Coca-Cola Amatil PNG (CCAPNG) and Indonesia (CCAI), Kadir Gunduz has expressed the global beverage company’s investment plan will continue to be made irrespective of the current challenges that he said CCAPNG was not immune to.
“Our brief investment plans we have for the next three years which is in the tens of millions of kina… in all emerging markers volatility is part of any economy where there are ups and downs.
“The commonality of the emerging market is the trend and the trend is always upwards, and we are seeing that in PNG as well we are really confident and we are a bit optimistic about the future of PNG and our business in PNG that is why we have not slowed down in making investment in infrastructure.
Mr Gundus said this during him officiating at the launch of the Sales Academy of the CCAPNG adding that investment of his staff at PNGCCA was central to continuing the investment as well.
“So we are optimistic, we are facing some challenges but these are no secret and we are not immune to any challenge that country itself is facing but we are confident that we have a competent government we have in PNG will address those issues and with the country we continue to invest in this beautiful country.
Finance and Rural Development Minister Renbo Paita highlighted the value of Coca-Cola Amatil in the country and its line of popular beverages in the country.
“We value genuine investors who have spent substantial amount of money investing such as Amatil in terms of in the last three years I am told they have invested around two to three hundred million (kina) in Papua New Guinea and in the next three years they will continue to invest,” Minister Paita said.
Paita also highlighted the important connection the beverage company has with the PNG people as one that is closely knitted into some of the country’s cultures.
“Coke has been here introduced in 1960, and since that it has taken to some people a very special root. “Especially in terms of the culture, in some cultures we know that when there is some issues or demands or killings there is always a mitigating issue of compensation or Bel Kol payments, which we call in PNG.
“When you see those exchanges of gifts you will see coke a red can being placed in the middle of those food and given to people,” Mr Paita added.
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