Friday 22 Nov
Yasser Abbas, Deputy CEO of the General Authority for Investment and Free Zones (GAFI), met with a delegation from Barry Callebaut, a leading Swiss chocolate and cocoa manufacturer, to discuss the company's potential investment in Egypt.
The meeting was attended by
prominent figures from both sides, including Vamsi Mohan, the company's
regional head for Asia, Africa, and the Middle East. Mohan expressed Barry
Callebaut's keen interest in establishing a chocolate production facility in
Egypt with a $30 million investment. The aim is to capitalize on Egypt's large
domestic market and position the country as a regional hub for exporting Barry
Callebaut's products to other Middle Eastern and African countries.
Abbas highlighted the significant
improvements in Egypt's investment climate in recent years. He emphasized the new
incentives, guarantees, and streamlined procedures offered to investors, as
well as the recent surge in company formations, facilitated land ownership, the
expansion of the golden license system, and the government's unwavering
commitment to promoting governance, transparency, and a level playing field.
Abbas reassured Barry Callebaut of the GAFI's full support throughout all stages of the project, from land allocation and company establishment to operational procedures. He emphasized the GAFI's commitment to ensuring the sustainability and efficiency of production operations.
