Arab Finance: Minister of Industry Khaled Hashem held talks with L'Oréal Egypt on its plans to expand investments in the local market, increase the share of locally sourced components, and boost exports to regional and international markets, as per a statement.

The meeting, attended by the company’s Chairman Mohamed El Araby and Assistant Minister for Strategic Affairs Mohamed Sami, reviewed L’Oréal Egypt’s operations since its establishment in 2009.

The company has grown to become the largest cosmetics player in the Egyptian market, with total investments of around €100 million in its factory in 10th of Ramadan City.

The facility has an annual production capacity of 100 million units, with local content reaching 70% in packaging materials and 30% in raw materials, while exporting 85% of its output to more than 20 countries across the Middle East and North Africa.

Hashem reiterated the state’s full support for international companies that contribute to technology transfer, deepen local manufacturing, and employ Egyptian workers.

He praised the company’s integrated industrial model, which combines large-scale production with environmental considerations, noting that the factory operates a closed-loop water system that ensures zero industrial waste in line with sustainability standards.

The minister emphasized the need to increase the share of locally sourced raw materials, directing the provision of government incentives to attract new investors and suppliers to the sector.

He also called on the company to submit a detailed list of raw materials that could be locally produced, enabling the ministry to facilitate the development of high-quality domestic alternatives.

For his part, ElAraby expressed optimism regarding planned measures to address existing challenges, commending government efforts to support investment.

He reaffirmed the company’s commitment to expanding its footprint in Egypt, creating job opportunities, and advancing the localization of manufacturing.

Recently, Minister of Local Development and Environment Manal Awad met with El Araby to review the company’s sustainability roadmap.

Awad reaffirmed the ministry’s commitment to supporting investments in environmental and climate-related sectors, while transforming environmental challenges into opportunities for economic growth, income generation, and the creation of innovative jobs.