Egypt’s Minister of Trade and Industry Ahmed Samir said the State is currently interested in providing unprecedented incentive packages for investors to benefit from the unique investment opportunities available in the Egyptian market in various productive sectors.
The remarks of the minister of trade and industry came during his meeting on Thursday with a delegation of Hayat Egypt Hygienic Products, led by its Chairman Senol Keserlioglu, as they discussed the company’s existing projects in the Egyptian market and the possibility of starting new projects in the coming period.
Samir welcomed the Turkish company’s plan to build new projects in Egypt with total investments of USD 210 million.
He stated the Egyptian market enjoys manufacturing capabilities and export opportunities to a large number of foreign markets, given the free and preferential trade agreements signed with regional and global markets; notably the African Continental Free Trade Agreement, which allows free access to products in the markets of all African countries.
On their part, the representatives of Hayat Egypt Hygienic Products stressed the company’s keenness on increasing its presence in Egypt, for being among the most important major markets in the Middle East and Africa, as well as being a key hub for the company’s products to reach a large number of regional and global markets.
They said the company has five factories in Egypt and plans to establish three others. It also provides nearly 1,500 direct jobs opportunities in the Egyptian market.
The Turkish company’s investments in Egypt currently stand at USD 550 million. (MENA)