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 Industry, Investment Ministers open new $40mln potato plant
17 September 2019  -  Organization :  -  Sector/Entity :  -  Category : General

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The factory is built over an area of 9,300 square meters, providing 100 direct and more than 5,000 indirect jobs.

Cairo- Sep 17, 2019

Minister of Trade and Industry Amr Nassar and Minister of Investment and International Cooperation Sahar Nasr inaugurated the latest potato factory of Farm Frites Egypt in the 10th of Ramadan City, with investments estimated at more than $40 million.

The factory is built over an area of 9,300 square meters, providing 100 direct and more than 5,000 indirect jobs.

“The food industry is one of the most important sectors of the national economy. We seek to make Egypt an industrial and export hub for food industries in MENA and the Arab world,” Nassar said in his speech.

He pointed out that the sector’s exports reached $1.826 billion during the first seven months of the year, up 7.5% from last year’s  $1.699 billion.

Nasr, for her part, said that the company’s expansion domestically confirms the improvement of the investment environment in Egypt, especially for Dutch investments, which come second place in pumping foreign direct investments in the local market at a total of $10 billion in 648 companies.

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