Nestle plans to invest approximately $137.93 million in Egypt in the next few years and believes economic reforms could deliver results. Political and economic instability have not discouraged Nestle from investing about the same amount in the years since 2011. “Certainly the kind of investments we have made over the last three-to-four years reflect the vision that we would have for this market, going forward,” says Suresh Narayanan, Nestle’s North East Africa region CEO.
Considering that food is a fast-growing sector in Egypt, Nestle aims to invest in manufacturing, new products and the nutrition and health industries. While Narayanan said it was important for Egypt to gain greater stability, Nestle and other companies seem more focused on the government’s promise to make life easier for investors. “I believe the steps that are being talked about in terms of improving the investment laws, improving the laws of labour, improving the overall friendliness that the country has towards investments, all augurs well,” he adds.
Other food and beverage retailers such as Coca-Cola Co, PepsiCo and Saudi Arabia’s Almarai have also announced investments worth hundreds of millions of dollars in Egypt.
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/ For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Abu Dhabi-based MAIR Group has marked a pivotal stage in its transformation
In a move that blurs the line between shopping and investing, Apparel
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