Food industry represents almost 14% of Egypt’s total exports: Investment Minister

CAIRO – 16 December 2024: Minister of Investment and Foreign Trade, Hassan El-Khatib, participated in the third Food Industry Conference, titled Food Egypt. During the event, the minister highlighted the pivotal role of the food industry as a cornerstone of Egypt’s national economy, significantly contributing to production and export activities.

The sector boasts investments exceeding 500 billion EGP, with more than 7,500 officially operating establishments providing over 7 million job opportunities. Additionally, the food industry contributes approximately 14% of Egypt’s total exports, emphasizing its importance in driving economic growth and enhancing international trade.

El-Khatib emphasized that the food industry is not only a leading driver of exports but also a critical enabler of sustainable economic growth. Over the past five years, the sector has consistently expanded its export footprint despite global economic challenges. This resilience stems from its strong reliance on local components in production, which strengthens the industry’s ability to adapt to dynamic market conditions and maintain growth.

The conference served as a platform to explore strategies for enhancing the food industry’s role in supporting Egypt’s economy and achieving sustainable development. Discussions centered on policies and initiatives to boost the sector’s productivity, competitiveness, and export capabilities.

The government regards the food industry as integral to its broader strategy of achieving sustainable economic growth. El-Khatib stressed that enhancing commodity exports is a key pillar of government policies aimed at fostering long-term economic expansion. These efforts are closely tied to increasing investment, advancing manufacturing, and creating employment opportunities.

The minister also noted that the food industry has consistently been among Egypt’s top-performing export sectors, demonstrating robust growth even amidst economic headwinds. Investments in the sector continue to rise, driven by its significant reliance on domestic resources and its expanding value chain, which positions it as a major contributor to Egypt’s economic stability and development.

The government’s ongoing support and strategic vision for the food industry underscore its potential to remain a linchpin of the national economy in the years ahead.

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