Nestle to shutdown factory, head office in Myanmar

Swiss food giant Nestle will cease all production in Myanmar due to turmoil since the military ousted Aung San Suu Kyi’s government. Nestle follows a raft of foreign firms that have since exited the market, including oil giants TotalEnergies and Chevron, and Norwegian telecoms operator Telenor, after a military coup two years ago. Myanmar has been in turmoil since the military ousted Aung San Suu Kyi’s government, sparking widespread unrest and tanking the economy. Nestle sells Nescafe instant coffee, Maggi noodles, and Milo chocolate malt beverages in Myanmar. A Myanmar firm will instead market and distribute Nestle products from Thailand, Malaysia and the Philippines. A spokesperson said that due to the current economic situation, Nestle’s factory in the commercial hub Yangon as well as its head office will cease operations, without giving a timeframe.