Nestle ready to increase investments in Egypt
Nestle, the leading Swiss food company, has decided to pump new investments in Egypt in order to increase the production capacity of its factories. The Swiss company plans to increase its investments in Egypt by about LE450 million (US$77.5 million), bringing its total investment of to LE2.45 billion (US$ 420 million). .
This announcement came during talks between Nestle's representatives and Rashid Mohamed Rashid, Egypt's Minister of Trade and Industry and Acting Minister of Investment, Nuqudy.com has reported.
During the meeting, the Chairman of Nestle said that what made the company's factories in Egypt and a real success story was the country's many advantages such as the size of the market and rising incomes. He mentioned that the decision to increase its investments in Egypt came following economic feasibility studies which confirmed that the Egyptian market is a promising one.