Chairman and CEO of PepsiCo. Egypt Mohamed Shelbaya has asserted the company’s commitment to pump new investments in the Egyptian market up to USD 515 mn from 2018 till 2021, including USD 100 mn in 2020 only, Invest-Gate reports.
Highlighting the significance of the Egyptian market to PepsiCo Group since the first inception 70 years ago in Egypt, Shelbaya said the company is keen on using the latest technology, in addition to the execution of a pioneering agricultural project, which is considered the second-largest one for PepsiCo worldwide. He also emphasized the firm’s vigorous Corporate Social Responsibility (CSR) strategy, which is aimed at adding value especially in terms of women empowerment, entrepreneurship, not to mention measures taken to alleviate COVID-19 repercussions in the medical and social sectors.
This came during a meeting with the General Authority for Investment and Free Zones (GAFI) Chairman Mohamed Abdel Wahab to display the company’s new investment plan, in addition to the expansion of the current production lines and investments in technology, sustainable development, and social development projects.
Abdel Wahab elaborated that a series of meetings with Egypt-based private companies will be conducted to promote further investments and relief obstacles across the board. He also presented the available investment grabs in the authority’s free zones, attempting to feature the North African as a regional logistic hub for PepsiCo. among neighboring nations.