YANGON:
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. 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.
Investors piled into Myanmar after the military relaxed its iron grip in 2011, paving the way for democratic reforms and economic liberalisation.
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