Egypt Backs Food Industry Expansion

Egypt’s Minister of Industry, Khaled Hashem, reaffirmed on Monday the government’s commitment to supporting companies that contribute to localizing food industries and boosting value-added production, as part of efforts to secure domestic supply of essential commodities.

Hashem's remarks came during a meeting with a delegation from Saudi Savola Group, led by its CEO Sameh Hassan, to review the company’s operations in Egypt and its expansion plans.

Hashem described the food industries sector as one of the most dynamic segments of the Egyptian economy, citing its role in driving gross domestic product growth and supporting exports.

During the meeting, Savola outlined its business development since entering the Egyptian market in 1996. The group currently operates six factories, including two sugar plants, one edible oil facility and three pasta production sites. Most of its output serves the domestic market, while a portion is exported to neighboring countries.

The discussions also addressed challenges facing the company’s operations and explored potential solutions, according to a statement.

Hashem emphasized the strategic importance of the sugar industry as a pillar of food security and market stability, noting that the government is working to increase domestic production and improve manufacturing efficiency to enhance self-sufficiency.

In turn, Hassan said Savola remains committed to expanding its investments in Egypt, describing the country as one of the group’s key markets. 

He further noted that Egypt ranks second after Saudi Arabia in terms of the company’s investment volume.