Nestle has confirmed it has set up a subsidiary in Myanmar, an indication it could follow the likes of PepsiCo and Ferrero into the market.

The Swiss food giant told just-food it was considering its strategy for Myanmar, which meant it was too early to give details on its plans.

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“We are currently reviewing the market situation in Myanmar and we are looking at different options. However, it would be premature to make any further comments on our business plans for Myanmar,” a spokesperson said.

The world’s FMCG companies are eyeing the Asian country as they hope economic reforms will follow recent political reform in the state.

In July, Ferrero confirmed plans to enter Myanmar with the launch of two of its products.

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A month earlier, PepsiCo, which already sells drinks in the country, told just-food it could start distributing snack brands in the market this year.

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That month, PepsiCo chairman and CEO Indra Nooyi visited Myanmar to co-chair the World Economic Forum on East Asia 2013 event. She called Myanmar “a story that is just beginning to unfold”. She added: “Political reform is happening here and as economic reform starts to happen here in Myanmar, I think this is going to be an unbelievable growth story for many years to come.”