By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
    Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
    March 21, 2023
    IMF reaches staff-level deal with Somalia
    IMF reaches staff-level deal with Somalia
    March 21, 2023
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    March 21, 2023
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    March 21, 2023
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    March 21, 2023
  • Politics
    PoliticsShow More
    New York beefs up security measures amid uncertainties over Trump case
    New York beefs up security measures amid uncertainties over Trump case
    March 22, 2023
    A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
    Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
    March 22, 2023
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    March 22, 2023
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    March 22, 2023
    Shoukry confirms Egypt's full support to COP28 in UAE
    Shoukry confirms Egypt’s full support to COP28 in UAE
    March 21, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Trade Minister, P&G Regional CEO discuss expansion plans in Egyptian market, increasing export rates
Share
Notification
Latest News
New York beefs up security measures amid uncertainties over Trump case
New York beefs up security measures amid uncertainties over Trump case
Politics
A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
Politics Society in depth
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Politics
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Politics
Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
Business Opinion
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

Beyond GDP: Changing how we measure progress is key to tackling a world in crisis

IMF reaches staff-level deal with Somalia

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson

Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs

SCZONE discusses cooperation with American-Hellenic Chamber of Commerce

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

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

New York beefs up security measures amid uncertainties over Trump case
New York beefs up security measures amid uncertainties over Trump case
Politics
A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
Politics Society in depth
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Politics
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Politics
//
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?