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News

Egypt: Kraft Heinz to enhance investments

28/06/2024 - François-Xavier Branthôme
According to the Egyptian daily press, Minister of Agriculture discusses increasing investments with Kraft Heinz officials

Elsayed Elkosayer, Minister of Agriculture and Land Reclamation, met with William Bahrin, Vice President of the Board of Directors of Kraft Heinz Global, and a technical delegation from the company. They explored ways to enhance Kraft Heinz's investments in Egypt, in the presence of Adel Abdelazim, President of the Agricultural Research Center, and other ministry leaders.

During the meeting, Elkosayer emphasized that Egypt welcomes foreign agricultural investments and encourages collaboration with the private sector. He highlighted the promising investment climate in Egypt and the need to focus on increasing added value, promoting agro-processing, and reducing crop losses.

Elkosayer instructed ministry leaders to support Heinz Company in developing new tomato processing varieties and conducting necessary tests during different agricultural seasons across Egypt.
The Minister of Agriculture stressed the importance of adhering to global market requirements, quality standards, and food safety practices. He also recommended contract farming with local farmers and market-driven pricing adjustments.
Company officials expressed satisfaction with the meeting and a desire to expand Kraft Heinz's investments in Egypt, benefiting from the current favourable investment climate.

Kraft Heinz Global has been operating in Egypt since 1991, with investments totaling around EGP 7bn.

Source: dailynewsegypt.com
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