Minister Of Industry Discusses Nestlé's Plans In Egyptian Market
Date
10/1/2024 2:11:16 PM
(MENAFN- Daily News Egypt) Egyptian Deputy Prime Minister for Industrial Development and Minister of industry and Transport, Kamel Al-Wazir, held a meeting with a delegation from Nestlé Egypt, a company specializing in the production of dry food products, therapeutic foods, and bottled water, to discuss the company's plans in the Egyptian market.
During the meeting, the company's strategy for localizing production inputs was reviewed. This involves sourcing certain agricultural components from local suppliers, ensuring they meet global standards, which would contribute to increasing Egyptian exports, reducing imports, and boosting the national economy.
The company's projects in green transformation were also discussed, along with its ongoing and future expansions in Egyptian factories to meet the needs of various consumer segments. Additionally, they discussed the company's proposed initiatives in plastic recycling, aimed at enhancing positive environmental impact.
Chairperson and Managing Director of Nestlé Egypt, Tarek Kamal, said that the company's investments in Egypt over the past 10 years have reached EGP 5bn and provided more than 10,000 direct and indirect job opportunities. The company's total exports have amounted to $22m.
He also announced a new collaboration with the Ministry of Industry, represented by the Industrial Modernization Center, to support local manufacturing in compliance with international standards by identifying local suppliers for the production inputs needed by the company.
He extended an invitation to the Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir to inaugurate the company's new expansions in 6th of October City in October.
The Minister emphasized the Ministry of Industry's commitment to providing all possible support to companies and removing any challenges they may face in Egypt.
He also stressed the importance of facilitating industrial procedures in the Egyptian market, which is promising. Furthermore, he mentioned that the Egyptian government has introduced various investment incentives to support the industrial sector, alongside the availability of raw materials and skilled labour in Egypt. He noted the government's focus on enhancing the role of the private sector and localizing various industries in the country.
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