This October 1, 2024, the Egyptian Minister of Industrial Development met Tariq Kamal, Chairman of the Board of Nestlé Egypt.
The multinational Nestlé has invested 5 billion Egyptian pounds in Egypt over the last 10 years. It generated more than 10,000 direct and indirect jobs, and its exports totaled $22 million.
Despite this, the multinational intends to develop new projects on the Egyptian market.
Tariq Kamal spoke to the Egyptian minister about his plans. Their ambition is to procure certain agricultural components from local suppliers.
This initiative aims to meet global standards and boost Egyptian exports, while reducing dependence on imports.
During this meeting, managers also reviewed Nestlé’s green transformation projects, as well as its initiatives in plastic recycling, contributing to a positive environmental impact.
The company also intends to continue expanding in Egypt to meet growing consumer needs.
Nestlé will strengthen its collaboration with the Ministry of Industry to support local production, by identifying local suppliers for the raw materials it needs.
The minister assured that the Egyptian government is fully committed to supporting local and foreign businesses by removing obstacles, simplifying industrial procedures and providing investment incentives.
Egypt, with its qualified workforce and available raw materials, thus wants to strengthen the role of the private sector and encourage the localization of various industries on its territory.
This meeting shows the mutual interest of Nestlé Egypt and the Egyptian government in sustainable and localized industrial development, which will benefit the country’s economy while respecting international environmental requirements.
