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Article

10 Aug 2012

Author:
Lalit Jha, Irrawaddy

Pepsi Enters Burma with ‘Responsible Investment’

PepsiCo announced...that it will soon enter the Burmese market in news welcomed by the Obama administration which emphasized the need for US businesses to set a model for responsible investment in the country...PepsiCo...has entered into an agreement with Rangoon-based Diamond Star which gives the Burmese company the exclusive rights to import, sell and distribute Pepsi-Cola, 7-Up and Mirinda...PepsiCo...has also signed a Memorandum of Understanding with the...UNESCO...to partner on vocational training initiatives in Burma...PepsiCo announced it also plans to explore opportunities to invest in agricultural development projects in Burma...PepsiCo and UNESCO plan to work together to provide programs that focus on managerial skills training to support the country’s development, empower its people and strengthen the workforce...[refers to Coca-Cola]