Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, met with senior executives from Procter & Gamble (P&G) to discuss the company’s existing investments in Egypt and plans to expand local manufacturing while increasing exports to Gulf and African markets.
The meeting forms part of the ministry’s strategy to enhance Egypt’s investment competitiveness, support existing investors and encourage greater industrial production and exports.
It was attended by Karim El Sherif, CEO and General Manager of Procter & Gamble Egypt and Africa Expansion Markets, along with officials from the Ministry of Investment and Foreign Trade and the General Authority for Investment and Free Zones (GAFI).
Farid reaffirmed the government’s commitment to maintaining close engagement with investors, stressing that supporting existing businesses and facilitating their expansion remain key priorities.
He said the consistency of Egypt’s economic policies, coupled with improving macroeconomic indicators, is strengthening investor confidence and enabling companies to pursue long-term expansion plans.
“Every new industrial expansion translates into higher exports and more employment opportunities for Egyptian citizens,” Farid said, adding that the government is focused on attracting high-quality investments that increase production, create jobs, deepen local manufacturing, facilitate technology transfer and expand exports.
The minister highlighted Egypt’s strategic geographic location, modern infrastructure, industrial zones and extensive network of free trade agreements as key competitive advantages that position the country as a regional hub for manufacturing and exports.
Farid described P&G as a successful model of long-term foreign direct investment in Egypt, noting that the company’s decades-long presence has supported domestic industry, created jobs and strengthened the country’s export performance.
The discussions also explored opportunities to leverage Egypt’s trade agreements, particularly the African Continental Free Trade Area (AfCFTA), as well as agreements with Arab and European markets, enabling manufacturers operating in Egypt to access hundreds of millions of consumers.
For his part, Karim El Sherif said Egypt represents one of Procter & Gamble’s most important production bases in the region.
He reaffirmed the company’s commitment to expanding its manufacturing operations in Egypt, increasing reliance on locally sourced inputs and boosting exports to Gulf and African markets.
El Sherif also praised Egypt’s Export Development Fund, saying it has enhanced the competitiveness of Egyptian-made products in regional and African markets while supporting the company’s export growth in recent years.
He further commended the government’s efforts to improve the investment climate, strengthen industrial competitiveness and create a more efficient business environment that encourages multinational companies to expand their investments in Egypt.
At the conclusion of the meeting, both sides agreed to maintain close coordination to monitor the company’s expansion plans and maximise investment and export opportunities, supporting Egypt’s efforts to attract more foreign direct investment and reinforce its position as a regional manufacturing and export hub.
