PepsiCo has announced plans to invest $250 million in Vietnam over the next three years.

"I am pleased to announce that over the next three years we expect to invest $250 million in our food and beverage businesses in Vietnam," said Mr Saad Abdul-Latif, chief executive officer of PepsiCo Asia, Middle East and Africa, to a gathering of employees, business partners and community leaders in Ho Chi Minh City yesterday (Aug 16).

"Vietnam represents one of PepsiCo's most exciting growth opportunities, and this investment is a reflection of our confidence in this dynamic country and the talented people who live and work here."

The new investment will be allocated to a variety of projects, including increasing manufacturing capacity, adding marketplace equipment like coolers, further strengthening existing brands and broadening the company's product portfolio via innovation. The investment is in addition to PepsiCo's investment over the past two years in two new manufacturing facilities, a new foods plant in Binh Duong and a new beverages plant in Can Tho.