Turkey’s Pasabahce mulls $60m investments in Egypt - Minister

Cairo - Mubasher: Turkish tableware manufacturer Pasabahce is considering boosting its investments to $80 million in Egypt over the coming period, the trade and industry minister said on Sunday.

Investments of Turkey’s biggest glassware manufacturer in the North African nation amounted to $20 million, Amr Nassar added in a statement.

In the same vein, Pasabahce will implement expansion projects in Egypt through setting up a new plant with $60 million in investments, the minister noted.

The statement came on the sidelines of a meeting between the Egyptian minister and a business delegate from Pasabahce.

Nassar stressed Egypt’s keenness to prop up foreign investments in the Arab world’s most populous country, which aim to produce high-quality Egyptian products in a bid to meet the demands of the domestic and overseas markets.

For his part, Pasabahce’s vice chairman Cemil Tokel said that the Turkish firm is seeking to increase its investments in Egypt to benefit from economic catalysts in the Egyptian market. 

The company has factories in many countries across the world and seeks to export its products to the US, Latin America, Arab, African and Eastern European markets, capitalising on free trade agreements signed between Egypt and those countries.

Mubasher Contribution Time: 18-Nov-2018 14:35 (GMT)
Mubasher Last Update Time: 18-Nov-2018 14:35 (GMT)