Trade minister discusses PepsiCo expansion plans in Egypt

CAIRO - 10 November 2022: Minister of Trade and Industry Ahmed Samir discussed in a meeting with PepsiCo's CEO for Africa, Middle East and South Asia (AMESA) Eugene Willemsen the company's plans for expanding its business in Egypt.

 

The meeting was held on the sidelines of the 27th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) in the Red Sea resort city of Sharm El Sheikh, according to a statement released by the Trade and Industry Ministry on Thursday.

 

The trade minister called for benefiting from the great potential of Egypt's food and beverage sector in meeting the local market's needs and exporting to regional and world markets.

 

Samir noted his ministry is keen on providing all forms of support to the private sector's projects to have a greater role in shoring up the national economy, the statement added.

 

The minister underlined the importance of strengthening cooperation between the government and the private sector on achieving sustainable transition of the industrial sector, as part of national and global trends toward a green economy, the statement read.

 

The meeting took up the strategy launched by PepsiCo in 2021 that targets every stage of the company's complex value chain to use resources more efficiently, reduce greenhouse gas emissions, replenish water, improve products and recapture packaging materials.

 

On his part, Willemsen said PepsiCo has been present in the Egyptian market since 70 years, as it has nine factories and 35 distribution centers and hires 14,000 workers.

 

He added PepsiCo plans to increase its investments in Egypt in the next five years, citing PepsiCo Egypt's implementation of a huge agricultural project that includes the cultivation of 40,000 feddans of potatoes yearly.

 

Willemsen noticed the company carries out a number of development projects in Egypt in the fields of sustainable agricultural, women's empowerment and waste management, as well as water conservation.

 

PepsiCo's CEO stated the company intends to increase development programs in Egypt in the areas of sustainability and environmental protection, especially in light of Egypt's hosting of COP27.