Egypt - New Sina for Food Investment and Beverage announced that it plans to invest EGP 1bn in the food and beverage market in the first quarter (1Q) of 2024.
The company said that the new investments were motivated by the measures and decisions taken by the Egyptian government to encourage investors and open new investment horizons to enhance Egypt’s economic capabilities and achieve its Vision 2030.
The company’s Managing Director Ahmed Hammouda said that the new investments would be used to restart factories and develop production lines in Gamasa Industrial City and Sadat City, and to develop new food and drink products that meet the needs of the Egyptian market.
He added that the company would also work on offering high-quality products in attractive packaging and expanding the marketing process to cover all of the country, with a focus on the southern governorates and the northern delta governorates.
He said that the company’s goal was to enter the export market of the Arab countries with the first 100% Egyptian national product in the food and beverage sector.
Hammouda said that the company had hired a selected group of the best food and beverage industry and production experts in Egypt and the Middle East to create an unprecedented breakthrough in Egypt.
He also said that the company had an administrative team with the best management experience and that it would train its workers to develop their technical and professional capabilities through courses from the best training centers and scientific and marketing consultations in the Middle East. He said that this would create new job opportunities for Egyptian youth.
He explained that the company had developed an integrated strategy to provide products from soft drinks, juices, and dairy products with the highest quality and best prices that suit the Egyptian citizen and take into account their economic situation. He also said that the company would enhance its role in community participation by working to develop the environment surrounding its factories and supporting and training young people to engage in the labor market. He said that this was part of its national role in supporting and developing the capabilities of the Egyptian state to build the New Republic.
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