Switzerland-based Nestle, the largest food company in the world in terms of revenues, will soon build a factory and manufacture its products in Myanmar according to DICA.
Nestle Myanmar Co Ltd was formed upon the permission of the Directorate of Investment and Company Administration (DICA) on September 16.
Nestlé’s products include baby food, drinking water, cereals, coffee, confectionery, dairy products, ice cream, pet food and snacks. Twenty-nine of Nestlé’s brands—including Nescafe, Kit Kat, and Maggi—have annual sales of over one billion Swiss francs (about US$1.1 billion).
Nestlé, which has its headquarters in Vevey, Switzerland, operates about 450 factories in 86 countries, with nearly 328,000 staff. It is one of the main shareholders of L’Oreal, the world’s largest
cosmetic company. The well-known food and beverages companies such as Coca Cola, Pepsi, and Unilever have already built factories in Myanmar.