15 September 2017

Egypt: U.S. Companies to Increase Investments in Egypt

Minister of Investment and International Cooperation Sahar Nasr met on Friday 15/09/2017 with representatives of General Electric, AbbVie pharmaceuticals, Johnson, Cargill, Merck & Co. pharmaceutical company, ExxonMobil, Kellogg food manufacturing company, JPMorgan Chase bank, and Mastercard, a statement issued by the ministry of investment said.

The meeting discussed means to promote cooperation and stimulate investments.

AbbVie has been operating in Egypt for 50 years with $100 million investments.

Cargill's business in Egypt reached $200 million and its regional manager expressed the company's desire to invest an additional amount of $150 million.

Kellogg company has five factories in Egypt and 24 production lines.

Merck & Co.'s representative lauded the steps taken by the government to improve the investment climate in Egypt, expressing her company's hope for further cooperation with Cairo.

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