PepsiCo Eyes Kazakhstan as Key to Central Asia’s Economic Growth
PepsiCo President David Manzini recently emphasized the significant economic potential of Central Asia, particularly in Kazakhstan, during the official launch of the construction of a new plant in the Almaty Region. The launch event, which took place on June 14, highlighted the pivotal role that Kazakhstan plays in providing the necessary economic and geopolitical stability for projects to thrive in the region.
In an interview with The Astana Times, Manzini expressed gratitude for the support received from the local government in securing land for the investment. The new plant, expected to be the largest of its kind in Central Asia, is set to produce up to 16,000 tons of finished products annually initially, with plans to increase capacity to 21,000 tons by 2027. This project will not only create 350 direct jobs but also stimulate the creation of additional jobs in the region.
The collaborative efforts of both PepsiCo and Kazakh Invest, the national company facilitating foreign investments in Kazakhstan, were crucial in bringing this project to fruition. The $160 million investment reflects the commitment of both parties to support economic growth and development in the country.
Furthermore, the project is anticipated to have a positive impact on agricultural development in Kazakhstan. PepsiCo has pledged to source local raw materials and is actively working with Kazakh farmers to enhance their production capacity. This initiative is expected to boost farmers’ incomes, strengthen the national economy, and contribute to the growth of the agricultural sector in the country.
The U.S. Ambassador to Kazakhstan, Daniel Rosenblum, commended PepsiCo’s investment as a significant contribution to the economic relationship between the U.S. and Kazakhstan. He highlighted the country’s attractiveness for foreign investment and encouraged other American companies to explore opportunities in Kazakhstan.
Overall, the launch of PepsiCo’s new snack manufacturing plant in Kazakhstan exemplifies successful collaboration between the government and the private sector in advancing the country’s economic diversification and prosperity goals. The project’s inclusion in a pool of priority investment projects under special government oversight underscores its strategic importance in driving economic growth and creating employment opportunities in Kazakhstan.
