28 October 2008 - During the past 10 years, Coca-Cola Icecek (CCI), the Turkish unit of Coca Cola, has invested USD 500 million in the domestic market. The company's investment in the country is expected to amount to approximately USD 600 million by the end of the year once the company's facility in Elazig is completed.
Talking at a recent foreign investor meeting, CCI's CEO Michael A. O'Neill said that Turkey is a prime location and that Istanbul is the ideal hub for Coca-Cola Icecek's expansion to Pakistan, Central Asia and the Middle East through the Turkish Gateway.
He added that, despite the economic turmoil, not only CCI's but Turkey's future looks bright.
"Coca-Cola Icecek being a regional bottler with an exceptional management team and expanding geographic coverage has a great potential for long term growth. Our financial and operational achievements are a result of a world class executional capability,” said the CEO.
O'Neill also commented: "Turkey, with a sound banking system, will be among the first to recover and therefore offer early opportunities for investment ... With a 187% growth in GDP over the past five years and due to EU Approximation Turkey offers one of the most flexible regulatory frameworks pertaining to a market economy, a peaceful foreign policy, and young, dynamic workforce which are beneficial for any international investors".
"Turkey is a country offering significant opportunities for foreign investors with its perfect geographic position which functions as a gateway between Europe, the Middle East and Central Asia. Opportunities exist not only in the dynamic domestic market, but also throughout the region. Exports have reached 107 billion USD in 2007, having grown 197% over the past 5 years ... With Turkey's mature and dynamic sector and leading role in the region, I continue to believe that Turkey will still provide an attractive climate for foreign investment in the future".