High-profile delegation of Egyptian officials will today attend the UK Africa Investment Summit in London, hosted by UK Prime Minister Boris Johnson.
The Summit represents an opportunity to showcase the investment opportunities available in Egypt and forge an even deeper partnership with the UK. Among the vast array of opportunities to be showcased include projects in engineering & electronics, packaging, agricultural processing, pharmaceutical and building (construction & material). Please find a press release on the details of this visit attached.
Packaging is one of many sectors that is on the rise as it benefits from the growth of the numerous industries that rely on it – playing an interconnecting role.
The packaging sector is crucial to Egypt due to its inter-connecting role in a number of different industries including pharma, food processing, petrochemical etc. As well as benefiting from the growth of these industries the packaging sector will also witness growth in the production of raw materials as labor costs are becoming more competitive. This has encouraged Indian companies to inject capital into packaging and expand the production of raw materials, not to mention the attraction of investment from Saudi Arabia and the UAE, as well as early interest from some US companies.
The industry’s growth has previously seen Tetra Pak launch a new liquid food factory in 2012 outside Alexandria, which is the first fully automated factory of its kind in the Middle East. Global confectioner and pet food manufacturer Mars has also been increasingly sourcing from local packaging suppliers in Egypt since 2014. Around 70% of its packaging is now sourced locally.
The release contains comments from Mohamed Abdelwahab, Chief Executive of GAFI, on the investment opportunities available in Egypt, “Much like the UK, Egypt is open for business and offers a land of opportunity for investors. We have a resilient economy, a drive towards equitable, integrated and sustainable development, and an eager workforce that is large, young and educated.”