Pepsi claims mainland blocking US$1b plans
Restrictions placed on soft-drink makers by the central government are preventing US giant PepsiCo from investing up to US$1 billion in the mainland.
PepsiCo chairman Roger Enrico said yesterday that PepsiCo was willing to invest whatever capital was required in the mainland to build the business and had been willing to do so for some time.
'I think the market is there, so whether it's US$500 million or $1 billion to invest in the country then those figures would be fine with us,' he said.
Mr Enrico said the company would like to do more than it was presently capable of doing in the mainland but was being restricted from doing so.
'We would like to invest even more capital but some of the limitations that are placed on soft-drink operators in China have been a bit of a problem and we are constantly talking with officials about that,' he said.
Talking to United States and Asian business leaders at an Asia Society lunch, Mr Enrico said that governments should be encouraged to adopt policies that foster an environment that was open and friendly to all businesses, free of obstacles and free of restrictions.
He said business people should welcome the thousands of companies that were willing, able and anxious to invest in the long term.
'Not just the builders of dams and the makers of computer chips but also the people that make the soap, the sneakers and the potato chips,' Mr Enrico said.
Mr Enrico said the mainland was a huge market and PepsiCo would be there for a long period.
