Baghdad: PepsiCo is making a significant investment in Iraq, with plans to expand manufacturing and develop the agricultural sector through two strategic agreements. The agreements, signed with Baghdad Soft Drinks Company (BSDC) and Green Iraq Company (GICO), were concluded during the US-Iraq Business Summit hosted by the US Chamber of Commerce.
According to National Iraqi News Agency, the signing coincided with Prime Minister Ali al-Zaidi's visit to the United States. These agreements are part of a broader effort to enhance local industry, modernize agricultural production, and position Iraq as a regional hub for food and beverage exports. The initiatives also aim to expand private sector investments and strengthen the long-term partnership between PepsiCo and its Iraqi collaborators.
Minister of Trade Mustafa Nizar emphasized that the agreements signify strong economic ties between Iraq and the United States. He noted that the partnerships will create job opportunities, support national industry, empower youth, and contribute to economic diversification and competitiveness.
The collaboration with Iraq Green Company is focused on increasing manufacturing capacity and advancing the agricultural sector. This will involve transferring modern irrigation and farming technologies and collaborating with Iraqi farmers to boost productivity and improve supply chains.
Ahmed Al-Sheikh, CEO of the Food Sector for the Middle East, North Africa, and Pakistan at PepsiCo, highlighted Iraq's agricultural potential, stating that the company will work with local partners to enhance agricultural sustainability, streamline supply chains, and increase the value of Iraqi products in regional markets.
The agreement with Baghdad Soft Drinks Company aims to boost annual production capacity to over 250 million cases, solidifying Iraq's role as a key manufacturing and bottling center for PepsiCo in the Middle East.
Mohammed Shalabiya, CEO of the Beverages Sector for the Middle East and Africa at PepsiCo, described the extended partnership with Baghdad Soft Drinks Company as a new chapter for investment expansion and market growth in Iraq.
Tariq Al-Hassan, the principal shareholder in both BSDC and GICO, expressed optimism about the agreements' potential to create jobs, support economic growth, and foster industrial and agricultural development in Iraq.
PepsiCo has been active in Iraq since 1950, implementing initiatives like the 'Ambition' scholarship program, 'Buses of Hope' initiative, and 'Youth Impact Studio' program to develop skills and empower youth. The new agreements reinforce PepsiCo and its partners' commitment to sustainable development in Iraq, focusing on industrial and agricultural investment and economic growth opportunities.