Bangkok (VNA) – Swiss food giant Nestle is set to halt all production in Myanmar, but it has yet to give a time frame, according to international media.
This is the latest foreign company planning to draw back from the country.
A spokesperson of Nestle said on February 27 that due to the “current economic situation”, Nestle’s factory in Yangon, as well as its head office, will “cease operations”.
Instead, a Myanmar firm will market and distribute Nestle products from Thailand, Malaysia and the Philippines.
Nestle sells Nescafe instant coffee, Maggi noodles, and Milo chocolate malt beverage in Myanmar.
The company will do all it can to support everyone affected by the decision, the spokesperson noted.
Recently, a number of foreign businesses have left Myanmar such as Total Energies, Chevron, and Telenor./.
