TAGUIG CITY—Following the meeting between President Rodrigo Duterte and Coca-Cola FEMSA Director General and CEO John A. Santa Maria at the sidelines of the Asia-Pacific Economic Cooperation (APEC) meeting held in Lima in November (left photo), Department of Trade and Industry (DTI) Secretary Ramon Lopez met with CEO Santa Maria at the sidelines of the Trabaho, Negosyo at Kabuhayan-Employment and Livelihood Summit (1 December) (right photo). The meetings resulted in a commitment from Coca-Cola FEMSA, a Mexico-based company, to invest USD 1 billion over the next five years in its Philippine operations. This is in addition to the approximately USD 1 billion, which has already been invested by Coca-Cola FEMSA in the country since 2013. Gearing towards long-term investment and placing strong investor confidence in the Duterte administration, Coca-Cola FEMSA’s capital infusion will go towards expanding and strengthening the company’s supply chain and commercial footprint throughout the country, therefore generating substantial employment and creating more micro-business opportunities. Objectives of this new commitment are in line with the government’s poverty alleviation and inclusive growth agenda.
