Yasser Abbas, Deputy CEO of the General Authority for Investment and Free Zones (GAFI), met with a delegation from the Swiss company Barry Callebaut, led by Vamsi Mohan, Regional Head for Asia, Africa, and the Middle East, to discuss the company’s investment plans in the Egyptian market.
During the meeting, Vamsi Mohan announced the company’s intention to enter the Egyptian market by establishing a chocolate manufacturing project with an investment of $30m. This initiative aims to meet the demand in the large local market while positioning Egypt as a regional hub for exporting the company’s products to Middle Eastern and African countries.
Barry Callebaut is one of the world’s leading companies in chocolate and cocoa production, operating 66 factories globally.
Abbas highlighted the latest developments in Egypt’s investment climate, including new guarantees and incentives for investors, alongside improvements in the establishment rate of companies, land ownership facilitation, the expansion of the Golden License issuance, and the enhancement of governance, transparency, and competitive neutrality in the Egyptian market. He also presented the various investment systems adopted by the Egyptian government, along with the diverse packages of incentives and facilities tailored to meet the needs of different economic sectors.
Abbas confirmed the full support of Barry Callebaut throughout all phases of the project, streamlining processes from land provision and company establishment to operational procedures, ensuring sustainable production operations.
The meeting was attended by Ameen Mabrouki, CEO of the company for the Middle East and North Africa; Ehab Nabil, General Manager of Cocoa Production in the region; Mouness Amin, CEO of Wise Financial and economic advisor to Barry Callebaut; and Mai El-Gendy, General Manager of Foreign Investment Attraction at the Authority.
