3/2/2009

Coca-Cola comes with secret formula

Sabah – Turkey’s new R&D law has made some big multinational companies to eye the country for investment. Zyxel Communications, Mercedes-Benz, HP and Unilever are among the names having shifted their focus on Turkey, whereas Coca Coca is the latest company getting ready to join this trend. The company has pushed the button to make Turkey, already home to Coca-Cola’s head office of 93 countries, its R& D center. Michael O'Neill, CEO of Coca Cola, has stressed the importance of tax incentives in Turkey’s new target of becoming a R&D center, noting that the R&D Law is the most important factor that has triggered Coca Cola’s R&D investment. Coca Cola has a bottling factory in the eastern Turkish province of Elazig. Meanwhile, the R&D budget of the company is USD 400 million. Ranking the 14th with respect to country performances, Turkey is considered as a ‘shining star’.