Investment, Trade Ministers Open New Production Line of Dutch Farm FritesSource: www.export-egypt.com 9/18/2019, Location: Africa |
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The ministers of investment and trade opened a new production line of the Dutch Farm Frites company in the 10th of Ramadan City in Sharqia governorate.
The new line will be established on an area of 9,300 square meters with total investments of USD 40 million. After attending the inauguration ceremony, Investment Minister Sahar Nasr said the expansion of Farm Frites in Egypt is strong evidence that the investment climate in Egypt is improving. The Netherlands has investments of USD 10 billion in Egypt, she said, adding that Farm Frites will benefit from the recent amendments to the investment law. The new production line will help Farm Frites to broaden its presence in the country as the largest potato producer, with a production capacity of more than 150,000 tons per year, she noted. Nasr noted that her ministry is keen on providing all incentives and facilitation for exporters to help them increase their investments in the country. The government is committed to removing any obstacles to the private sector, she said. Nasr invited Farm Frites CEO and Dutch investors in Egypt to take part in an Africa business conference, which will be held under the auspices of President Abdel Fattah El Sisi later this year. For his part, Trade and Industry Minister Amr Nassar said the sector of food industries is one of Egypt's economy drives, which creates over one million jobs for young men. He added that food exports in 2018 hit USD 2.8 billion, stressing that his ministry is keen on raising the standards of efficiency and safety in the food industries' sector. Meanwhile, Ahmed Seddik, the managing director of Farm Frites Egypt, said he is happy to launch the new production line, which he said is built in line with the latest manufacturing and packaging technology in the region. |
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