Coca-Cola exports 70% of its Egypt production – president

Coca-Cola exports 70 percent of its production in Egypt; while 30 percent is for domestic use, said Curt Ferguson, president of the company in the Middle East and North Africa, during a Euromoney conference held in Cairo Monday.

During his speech in the Euromoney conference, Ferguson called on the Egyptian government to encourage foreign investments, stressing the importance of the establishment of free zones.
“Investors needed 27 licenses to establish a single project, so the government has to look into those efforts to ease doing business in Egypt,” Ferguson said.

Ferguson also said the energy crisis haunted Egypt in 2014 had significantly affected Coca-Cola’s business in the country, yet the company has managed to achieve an 8 percent growth in volume of business in the country by end of 2014.

Ferguson concluded his speech by recommending foreign investors to give a good concern for the free zones in Egypt.

Coca-Cola announced in 2015 its commitment to invest US$500 million in Egypt within three years, during the Economic Development Conference held in Sharm El-Sheikh last March.
The investment will fund new manufacturing, distribution, sales and marketing capabilities, which will include the opening of a new bottling facility in 6th of October City in 2016, while creating additional employment opportunities.