US companies to increase investments in Egypt
Friday، 15 September 2017 - 02:21 PM
Minister of Investment and International Cooperation Sahar Nasr met on 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.