(MENAFN), Nestle, the Swiss food giant, announced that it is planning to invest about USD137.93 million in Egypt in the next few years, Arabian Business reported.
"Certainly the kinds of investments we have made over the last three to four years are the kind of vision that we would have for this market also going forward," Nestle's North East Africa Region CEO said.
Nestle said that these new investments will be targeted at manufacturing, new products and the nutrition and health industries, especially since food is seen as a fast-growing sector in Egypt, the most populous Arab nation with 90 million people.
These investments in the Egyptian market by Nestle follow several food and beverage retailers such as Coca-Cola Co, PepsiCo and Saudi Arabia's Almarai, which also announced investments worth hundreds of millions of dollars in Egypt.
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