Philips Lighting has plans to expand in Egyptian market, says CEO

CAIRO, Jan 26 (MENA) – Philips Lighting has an ambitious plan to expand in the Egyptian market and increase production rates to meet the market’s huge demands, said Eric Rondolat, the CEO of the Dutch electronics giant.

Rondolat’s remarks were made during his meeting with Minister of Trade and Industry Amr Nassar on the sidelines of the World Economic Forum, which concluded its activities Friday in the Swiss ski resort of Davos.

Rondolat noted that Philips Lighting targets a 15 percent market share in Egypt within the coming three years, the Ministry of Trade and Industry said in a statement Saturday.

The meeting touched on the company's future plans to increase its investments in the Egyptian market in addition to means of boosting its exports of Egypt-manufactured products to regional and African markets.