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Egypt’s Minister of Trade and Industry Ahmed Samir held a meeting with PepsiCo’s CEO for Africa, Middle East, and South Asia (AMESA) Eugene Willemsen, wherein both discussed the company’s plans for expanding its footprint in Egypt
Egypt’s Minister of Trade and Industry Ahmed Samir held a meeting with PepsiCo’s CEO for Africa, Middle East, and South Asia (AMESA) Eugene Willemsen, wherein both discussed the company’s plans for expanding its footprint in Egypt.
Importantly, 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. The participation of PepsiCo and its sponsorship of the event has been criticised by certain environmental groups. However, the US-based multinational company has reaffirmed its commitment to work towards sustainable agriculture in Africa and other parts of the world.
The Egyptian trade minister explained the potential of Egypt to become an exporter of processed foods to major destinations including the west and assured the company of all types of support to the private sector’s projects to have a greater role in shoring up the national economy.
The minister underlined the importance of strengthening cooperation between the government and the private sector in achieving a sustainable transition of the industrial sector, as part of national and global trends toward a green economy.
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Willemsen said PepsiCo has been present in the Egyptian market for 70 years, as it has nine factories and 35 distribution channels. It employs around 14,000 workers. The company plans to increase its investments in Egypt in the next five years, he added. He also referred to PepsiCo Egypt’s implementation of a huge agricultural project that included 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 agriculture, women’s empowerment and waste management, as well as water conservation.
