"Our new commitment to invest $1 billion in our business over five years will strengthen production, distribution and help development of new products," Glenn Jordan, Coca-Cola Pacific Group president, said in a statement.
The announcement was made in conjunction with Jordan meeting with Benigno Aquino, president of the Philippines, in New York.
Coca-Cola is building a large bottling facility in Misamis Oriental in the Philippines that is scheduled to begin operations next year. The company's Philippine business saw double-digit growth in the first half of the year.
Coca-Cola, which operates 23 plants and 42 sales offices with more than 7,800 employees across the Philippines, said the new investment will focus on marketing and system logistics and delivery capabilities in order to better serve its expanding customer base.
Coca-Cola has been present in the Philippines since the start of the 20th century and has been locally produced since 1912. The Philippines received the first Coca-Cola bottling and distribution franchise outside North America and operations there are among the biggest 10 Coca-Cola bottlers globally.
