"Nestle to close factory, head office in Myanmar"

Swiss food giant Nestle will halt all production in Myanmar, a spokesperson said Monday (Feb 27), the latest firm to draw back from the country after a military coup two years ago.

The Southeast Asian nation has been in turmoil since the military ousted Aung San Suu Kyi's government, sparking widespread unrest and tanking the economy.

A raft of foreign companies has since exited the market, including oil giants TotalEnergies and Chevron, and Norwegian telecoms operator Telenor.

Due to the "current economic situation" Nestle's factory in the commercial hub Yangon, as well as its head office, would "cease operations", a spokesperson told AFP, without giving a timeframe...

A Myanmar firm would instead market and distribute Nestle products from Thailand, Malaysia and the Philippines, the spokesperson said...