On Tuesday, Egyptian Minister of Trade and Industry Amr Nassar inaugurated the latest Farm Frites Egypt factory with investments of US$40 million. The factory spans an area of 9,300 m2, providing 100 direct and more than 5,000 indirect jobs. The opening ceremony was attended by Minister of Investment and International Cooperation Sahar Nasr and Piet de Bruijne Beit Dibrong, Chairman of Farm Frites International.
Nassar stressed that the ministry seeks to raise the standards of efficiency and safety in the food processing sector, to make Egypt an industrial and export hub for food industries for the Arab countries and the Middle East markets.
Nasr said that the company’s expansion domestically confirms the improvement of the investment environment in Egypt, especially for Dutch investments, which come second place in pumping foreign direct investments in Egypt at a total of $10 billion distributed to 648 companies.
As reported by egyptindependent.com¸ she added that the company will be one of the first beneficiaries of the new amendments approved on the investment law during the current year, the most important of which is that expanding companies benefit from the establishment of incentives and guarantees.
With this expansion, the company will be able to strengthen its position as the largest potato production company in Egypt, with a production capacity of more than 150,000 tons per year. It will also be able to double its exports and open up new export markets, where it exports half of its production to 22 countries, in addition to the transfer of Dutch food industry technology to Egypt.