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Swiss-based food conglomerate, Nestle is set to close its factory and head office in Yangon, Myanmar. Previously, the factory distributed brands such as Milo, Nescafe and Maggi noodles for the domestic market.
The factory closure however does not mean that Nestle is withdrawing from Myanmar market as it has appointed Myanmar Distribution Group (MDG) to import Nestle products from Thailand, Malaysia and the Philippines.
Apart from Nestle, several other major multinational companies have also exited Myanmar after the military coup in 2021, which created political and economic uncertainties in the country.
