Egypt’s Minister of Trade and Industry, Neveen Gamie, highlighted on Sunday the government’s keenness on providing the necessary support to industrial companies that operate in the Egyptian market.
The government, the minister added, is also keen on encouraging these companies to enhance their investments, including by establishing new projects and expanding investments already present in the market.
She added during a meeting with Samir Lebbar, the CEO of the North Africa branch of multinational consumer goods corporation, Procter & Gamble, that the enhancement of investments would contribute to increasing the production and export capabilities of these companies.
“This will also contribute to the creation of jobs, which will support the Egyptian economy at the end of the day,” Minister Gamie said.
The minister noted that Egypt’s political leadership attaches great importance to industry.
The political leadership, she said, is interested in increasing the pace of industry localization and the substitution of imported products with locally-made ones.
“This comes in the light of the presence of all the necessary industrial capabilities and ingredients here,” the minister said.
She added that these capabilities and ingredients qualify Egypt to become an industry and export hub.
Minister Gamie noted that the presence of interest on the part of international companies to invest in Egypt also reflects the success of efforts by the government to create a favourable business climate and provide more incentives and guarantees to international investors.
Those investing in Egypt, the minister said, have the privilege of gaining access to a large number of markets in the Arab and African regions.
She praised a recent decision by Procter & Gamble to launch a line for the production of liquid detergents locally.
Most of these detergents, the minister said, used to come here from other countries in the past.
The new production line, she added, would meet the needs of the local market and also open the door for exports to other countries.
Attending the meeting was also Tamer Younes, a member of the Board of Directors and general manager of Procter & Gamble’s Foreign Relations Section.
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