Sunday 22 May 2022
A statement from the Ministry of Trade and Industry said today, Sunday, that Procter & Gamble decided to open its latest new production line to produce liquid detergents, which were imported from abroad, in order to meet the needs of the local market and export to foreign markets.
In the statement, Minister of Trade and Industry Nevin Jameh praised the company’s decision.
According to the statement, the political leadership attaches great importance to the industry file, in particular the deepening of local industrialization and the substitution of imported products with national products, in light of the availability of all industrial capabilities and ingredients that make Egypt a pivot for manufacturing and exporting to various countries of the world.
This came during the minister’s meeting with Samir Al-Labbar, regional CEO of Procter & Gamble International for Egypt and North Africa, and the meeting dealt with the company’s current and future investment plans in the Egyptian market.
He reviewed aspects of cooperation between the company and the ministry to maximize the company’s role in the Egyptian economy. The meeting was attended by Tamer Younes, member of the company’s board of directors and general manager of the company’s foreign relations in the North African region.
Gamea stressed the government’s keenness to provide the necessary support and assistance to industrial companies operating in the Egyptian market in order to enhance the investments of these companies, whether through establishing new projects or establishing expansions for existing factories, which contributes to increasing their production and export capabilities and thus creating more job opportunities and supporting the Egyptian economy .
Gamea pointed out the importance of expanding the company’s projects in the Egyptian and African markets, especially in light of the ministry’s plan to develop joint economic cooperation with a number of major countries in the east and west of the continent and help them build a manufacturing base with Egyptian expertise, which is reflected positively on the rates of inter-trade and joint investments.
Jameh drew attention to the successful promotional missions organized by the ministry in cooperation with Tejari Wafa Bank for the countries of Cameroon and Senegal, which contributed to achieving export contracts for Egyptian companies in the two countries. Coordination is underway to organize other missions to a number of West African countries.
Samir Al-Labbar, regional CEO of Procter & Gamble International for Egypt and North Africa, said that the company’s commitment to deepening local manufacturing and increasing Egyptian exports to global markets in general and African markets in particular.
He pointed out the company’s keenness to benefit from the network of preferential free trade agreements signed by a large number of countries and major economic blocs in the world.
Al-Labbar also pointed out that the company has been working in the Egyptian market for more than thirty years, and its investments currently exceed 3.5 billion pounds, and it provides about 1,300 direct job opportunities and 10,000 opportunities in support services for the company’s business in Egypt.
The company exports to about countries around the world, with total annual exports of $250 million.
He pointed out that the company’s branch in Egypt is one of the 3 main branches responsible for planning the company’s supply chains in the Asia Pacific region, the Middle East and Africa.
He said that the company is making great efforts to empower women and maximize their role in the Egyptian society through its various social activities, in addition to the fact that the company’s branch in Egypt is the first in terms of interest in hiring people of determination.
Al-Labbar added that the company is expanding in the Egyptian market permanently by increasing production lines and increasing productivity rates, especially since the Egyptian market is a strategic industrial and export hub for the markets of the Arab countries, Africa and Europe.
He praised the decisions of the political leadership and the government, with the exception of production requirements from the documentary credits decision, which gave a revival to all factories to continue the rotation of the production wheel and maintain productivity rates and export markets, as well as technical employment, and also represents a certificate of confidence in the ability of the Egyptian economy to deal with global challenges.