By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Banque Misr to launch green investment fund in 2024
    Banque Misr to launch green investment fund in 2024
    September 23, 2023
    Youssef Boutros-Ghali, the former Egyptian Minister of Finance,
    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group
    September 22, 2023
    Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
    September 22, 2023
    Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    September 21, 2023
    ABB allocates €13bn for green transformation by 2030
    ABB allocates €13bn for green transformation by 2030
    September 21, 2023
  • Politics
    PoliticsShow More
    Egypt, Greece, and Cyprus stress coordination on gas, regional issues
    Egypt, Greece, and Cyprus stress coordination on gas, regional issues
    September 23, 2023
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    September 22, 2023
    Egyptian Health Minister highlights country's interest in local drug manufacturing
    Egyptian Health Minister highlights country’s interest in local drug manufacturing
    September 21, 2023
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    September 20, 2023
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    September 20, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Trade Minister, P&G Regional CEO discuss expansion plans in Egyptian market, increasing export rates
Share
Notification
Latest News
Banque Misr to launch green investment fund in 2024
Banque Misr to launch green investment fund in 2024
Business
Egypt, Greece, and Cyprus stress coordination on gas, regional issues
Egypt, Greece, and Cyprus stress coordination on gas, regional issues
Politics Egypt
Nakhla Gift Shop at Grand Egyptian Museum listed as one of world's best by Financial Times
Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times
Culture
Youssef Boutros-Ghali, the former Egyptian Minister of Finance,
Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group
Business
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Trade Minister, P&G Regional CEO discuss expansion plans in Egyptian market, increasing export rates
Business

Trade Minister, P&G Regional CEO discuss expansion plans in Egyptian market, increasing export rates

Daily News Egypt
Last updated: 2022/05/24 at 11:38 PM
By Daily News Egypt 4 Min Read
Share
Trade Minister, P&G Regional CEO discuss expansion plans in Egyptian market, increasing export rates
SHARE

Minister of Trade and Industry Nevine Gamea met with Samir Al-Labbar — Regional CEO of Procter and Gamble (P&G) International for Egypt and North Africa — on Sunday.

During the meeting, Gamea discussed the state’s keenness to provide the necessary support and assistance to industrial companies operating in the Egyptian market, adding that the government is working to enhance the investments of these companies, whether by establishing new projects or implementing expansions of the existing factories.

This contributes to increasing their production and export capabilities, thus creating more job opportunities to support the Egyptian economy

The meeting also covered the company’s current and future investment plans in the Egyptian market as well as aspects of cooperation between the company and the ministry to maximise the former’s role in the Egyptian economy.

The minister said that the international companies’ efforts to invest in the Egyptian market reflect the success of the government’s efforts to create a business climate and provide more incentives and guarantees for global investments to be present in the Egyptian market and access a large number of markets in the Middle East and Africa.

She also praised P&G’s decision to open a new production line for liquid detergents — which were otherwise imported from abroad — in order to meet the needs of the local market and export to foreign markets.

Furthermore, the minister highlighted the importance of expanding the company’s projects in the Egyptian and African markets, especially with the ministry’s plan to develop economic cooperation with a number of major countries in the east and west of the continent and help them build a manufacturing base with Egyptian expertise.

This is positively seen on the rates of inter-trade and joint investments. She also noted that this framework refers to the successful promotional missions organised by the ministry in cooperation with Attijari Wafa Bank for Cameroon and Senegal, which contributed to achieving export contracts for Egyptian companies in the two countries. Coordination is also underway to organise other missions to a number of West African countries

For his part, Al-Labbar said that the company is committed to deepening local manufacturing and increasing Egyptian exports to global markets in general and African markets in particular. He also stressed the company’s keenness to benefit from the preferential free trade agreements network.

Additionally, Al-Labbar pointed out that the company has been working in the Egyptian market for more than 30 years, and the volume of its investments currently exceeds EGP 3.5bn.

It also provides about 1,300 direct job opportunities and 10,000 opportunities in support services for the company’s business in Egypt.

Furthermore, it exports to 37 countries around the world, with total annual exports amounting to $250m. Al-Labbar also noted that the company’s branch in Egypt is one of the three main branches responsible for planning the company’s supply chains in the Asia Pacific region, the Middle East, and Africa.

Moreover, the CEO said that the company is expanding in the Egyptian market permanently by increasing production lines and productivity rates, especially that the Egyptian market is a strategic industrial and export hub for Arabian, African, and European markets.

He also praised the decisions of the political leadership and the government to provide exceptions for production requirements from the decision of documentary credits.

This will allow factories to be revived, enhance production, and maintain productivity rates and export markets as well as technical employment. It also serves as a certificate of confidence in the Egyptian economy’s ability to handle global challenges.

You Might Also Like

Banque Misr to launch green investment fund in 2024

Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity

Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company

ABB allocates €13bn for green transformation by 2030

TAGGED: Export, P&G, trade minister
Share this Article
Facebook Twitter Email Print
Previous Article Minister of Trade and Industry Nevine Gamea We are working to increase trade exchange between small enterprises in Egypt and Africa: Trade Minister
Next Article Madbouly follows up on strengthening industrial cooperation with UAE, Jordan Madbouly follows up on strengthening industrial cooperation with UAE, Jordan
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Banque Misr to launch green investment fund in 2024
Banque Misr to launch green investment fund in 2024
Business
Egypt, Greece, and Cyprus stress coordination on gas, regional issues
Egypt, Greece, and Cyprus stress coordination on gas, regional issues
Politics Egypt
Nakhla Gift Shop at Grand Egyptian Museum listed as one of world's best by Financial Times
Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times
Culture
Youssef Boutros-Ghali, the former Egyptian Minister of Finance,
Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?