Coca-Cola CEO Muhtar Kent had an interesting comparison for the company’s entry into Myanmar after 60 years.
“It’s a great moment in history, just like it used to be when we opened up our business in east and central Europe in the former Soviet Union right after the fall of the Berlin wall,” Kent told Bloomberg Television.
The Berlin Wall divided East and West Germany and was demolished in 1990.
Myanmar, which is located in Southeast Asia, just opened its borders to foreign trade last year after decades of political and economic isolation.
Coca-Cola plans to open a bottling plant in the country, and plans to invest $200 million in its newly opened economy over the next five years, according to Bloomberg.
Coke already has competition in Myanmar.
Pepsi has already started building distribution centres in the country and plans to sell snacks there.
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