Coca-Cola invests $500 million in Egypt during coming 3 years
Mounir Fakhry Abdel Nour - YOUM7 (Archive)

CAIRO: The Coca-Cola Company plans to establish projects in the Egyptian market with investments amounting to about 500 million dollars over the next three years, Minister of Industry, Trade and Investment Mounir Fakhry Abdel Nour announced in a press release issued by the ministry Thursday.

According to Abdel Nour the company’s plan reflects the increasing confidence of foreign investors and international companies in the Egyptian economy. The minister said that this investment shows the ability of the economy to recover and overcome the deceleration phase it faced during the last period. The new government is keen to encourage local, Arab and foreign investments, he added.

On the sidelines of Thursday’s meeting of Abdel Nour with the Coca-Cola delegation, the president of the company’s Middle East and North Africa business unit, Curtis Ferguson, said that the increasing investments of large companies in Egypt are a good indicator for the strength of the state and its economy. It sends a strong message to countries around the world about the future of the Egyptian economy, he added.

Originally published in Youm7.

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