Arab Finance: Minister of Investment and Foreign Trade Mohamed Farid met with Procter & Gamble (P&G) officials to review the company’s investments in Egypt as well as its plans to expand local manufacturing and increase exports to Gulf and African markets, as per a statement.
P&G officials said Egypt is one of the company’s most important production bases in the region, supported by its geographic location, qualified workforce, modern infrastructure, and network of free trade agreements. They outlined plans to increase local production, rely more heavily on components manufactured in Egypt, and expand into foreign markets, particularly across the Gulf and Africa.
The officials also praised the Export Development Fund (EDF) for supporting the competitiveness of Egyptian-made products in overseas markets and contributing to the company’s export growth in recent years.
Moreover, they welcomed government measures to improve the investment climate, strengthen national industries, and encourage international companies to inject further investments into Egypt.
For his part, Farid said the ministry maintains continuous communication with the business community to understand investors’ needs and address the challenges they face, helping existing companies expand production, exports, and employment.
He added that the expansion of companies already operating in Egypt reflects confidence in the country’s business environment and economic policies.
Furthermore, the minister reaffirmed the state’s commitment to supporting existing investors and encouraging further expansion through cooperation between the government and private sector.
He also expressed Egypt’s interest in attracting additional P&G investments and expanding the company’s production activities to deepen local manufacturing, raise added value, create jobs, and increase exports.
Wrapping up the meeting, both sides agreed to maintain coordination over the coming period to follow up on P&G’s expansion plans and make greater use of the investment and export opportunities available in Egypt.
