UAE: PepsiCo unveils Dubai R&D centre
PepsiCo has announced the opening of its newest R&D centre which is located at Dubiotech in Dubai, UAE.
Gulf News reports the comany as saying that the facility will be a hub of new products and flavours for Pepsico’s regional businesses. The new centre is described as featuring a culinary centre and test laboratories that will be used to create PepsiCo food and beverage brands adapted to local taste preferences.
Speaking at the opening of the facility, Omar Farid, PepsiCo's resident for the Middle East and Africa, commented: "The creation of this centre is a key component in our overall plan to drive growth in emerging and developing markets globally and to advance our innovation footprint and capabilities across the region".
"We remain committed to emerging markets, as they have a long runway for growth, driven by increasing demand for our safe, convenient, on-trend, affordable products, supported by a rapidly growing middle class. We are well positioned to capitalise on these opportunities", he added.
Gulf News reports that the size of PepsiCo's business in emerging and developing markes has nearly tripled in seven years, climbing from $8 billion of annual net revenue in 2006 to $23 billion in 2013.
Source: Gulf News