Swiss Chocolate Giant Barry Callebaut to Invest $30M in Egyptian Manufacturing Hub: GAFI

CAIRO – 7 October 2024: Barry Callebaut, a Swiss company, has announced plans to invest $30 million in a new chocolate manufacturing project.

 The initiative aims to cater to the growing demand within the local market and establish Egypt as a central export hub to Middle Eastern and African regions, according to Vamsi Mohan, the company’s Regional Head for Asia, Africa, and the Middle East.

The announcement was made during a meeting between Yasser Abbas, Deputy CEO of the General Authority for Investment and Free Zones (GAFI), and a delegation from Barry Callebaut, led by Mohan.

Barry Callebaut, a leading global company in the chocolate and cocoa sector, operates 66 factories around the world.

During the meeting, Abbas highlighted the recent developments in Egypt’s investment landscape, focusing on the guarantees and incentives provided to investors.

 The discussion also covered the various investment frameworks adopted by the Egyptian government, including tailored incentive packages for different economic sectors.

GAFI’s Deputy CEO reaffirmed the Authority’s commitment to supporting Barry Callebaut throughout the entire project lifecycle.

 This includes streamlining processes related to land allocation, company establishment, and operational phases, ensuring smooth and sustainable production.