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. Others, such as Heineken, Carlsberg, Beer Chang,
and Pokka are beginning construction of their factories here.
source: Eleven Myanmar
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