Egypt’s food industries sector attracts EGP 500bn investments, Gamea

The Egyptian food industries sector attracts investments of 500 billion Egyptian pounds which are making up 24.5 percent of the country’s gross domestic product (GDP), the Minister of Trade and Industry, Nevine Gamea, said on Sunday.

She added that It provides the needs of the local market as well as supplies exports to regional and global markets. In addition to its GDP contributions, it provides 23.2 percent of employment in Egypt.

The data came as part of the minister’s speech, delivered on behalf of Prime Minister Mostafa Madbouly, during the activities of the first annual forum for food industries, organised by the Chamber of Food Industries (CFI).

Gamea added that the food industry is the second largest in Egypt in terms of value added, and the largest in terms of industrial employment.

In addition, the sector achieved an average growth rate of 20 percent during the five-year period from 2015 to 2020.

The value of food industries and agricultural crops exports in 2020 amounted to about $5.720bn, which accounts for 22 percent of Egypt’s total exports.