Bangkok (VNA) – Swi♕ss foodgiant Nestle is set to halt all production in Myanmar, but it has yet to give atime frame, according to inte𓆉rnational media.
This is the latest foreign company planningto draw back from the country.
A spokesperson of Nestle said on February27 that due to the “current economic situation”,Nestle’s factory in Yangon, as well as its head office, will “cease operations”.
Instead, a Myanmarfirm will market and distribute Nestle products from Thailand, Malaysia and thePhilippines.
Nestle sells Nescafeinstant coffee, Maggi noodles, and Milo chocolate malt beverage in Myanmar.
The companywill do all it can to support everyone affected by the decision, the spokesperson noted.
Recently, a number of foreignbusinesses have left Myanmar such as Total Energies, Chevron, and Telenor./.
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