Despite the ongoing COVID-19 pandemic and a nationwide economic lockdown, Coca-Cola Beverages Philippines, Inc. (CCBPI)’s investment outlook remains bullish and is on track as it affirmed its support to Mindanao with further expansion projects in the area and other development efforts.
The commitment of support was affirmed during the virtual 29th Mindanao Business Conference (MinBizCon) held recently. CEO and President Gareth McGeown said that CCBPI has already invested an additional $22 million (Php1.065 billion) for the last quarter of 2020 alone to up its total 2020 investment in the country to over $95 million (approx. Php 4.7B).
Of this amount, a big chunk will be used to push the company’s operational capacity in Mindanao by 30 percent. Since more spending will be earmarked for infrastructure, this means CCBPI will have three new manufacturing lines in the region that will help provide new jobs for more Mindanaoans.
“Mindanao has been a growth engine for us for the last few years. We have seen that our growth rates in the region have continued to expand double-digit over the last two to three years, and we have a firm belief that such growth will continue,” said McGeown.
CCBPI’s Mindanao footprint includes four manufacturing plants located in Misamis Oriental, Zamboanga, Davao City, and Davao del Sur; nine distribution centers, and with 3,200 partners.
McGeown also revealed that Mindanao consumers have become more open to new products compared to those in Metro Manila, citing this as another reason why Mindanao continues to play a critical role as a launchpad for new portfolio brands and variants for the company. He also cited the uniqueness of consumption behavior in Mindanao, which makes it a critical aspect to CCBPI’s growth strategy.
“More than the consumers’ taste and preferences, the region’s growth rate gives us a reason to believe that great days are ahead for Mindanao,” added McGeown.
The two-day MinBizCon has become an avenue to discuss economic concerns and opportunities in Mindanao. This year’s event was hosted by the Davao City Chamber of Commerce and convened by the Philippine Chamber of Commerce. Over 500 delegates consisting of top businessmen, key industry players, government executives, and members of the diplomatic corps joined.
Aside from the additional lines being built in Mindanao, CCBPI also launched Balik Pinas, a program that provides business opportunities for returning OFWs . This is aligned with CCBPI’s thrust to help more individuals and communities to recover and thrive in the new normal.
“No business can run independently of the communities they operate in. One of the reasons why Coca-Cola has been successful for so long is that we are an integral part of all communities we operate in,” the CEO noted.
According to McGeown, CCBPI’s “Purpose in Action” is also part of the company’s commitment to protect its employees and their jobs, as well as support its customers and communities during the pandemic. The company also provided its employees with comprehensive medical coverage and ensured job security so they can continue supporting their families.
McGeown also affirmed the company’s commitment to sustainability efforts as he announced that PETValue, the Php 1 billion, state-of-the-art, food-grade recycling facility established in partnership with Indorama Ventures, a leader in recycling and green technologies, will soon rise in General Trias, Cavite. The facility is targeted to be operational by the last quarter of next year.