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Omar Farid, president for Middle East & Africa, Pepsico
PepsiCo , Inc., affirmed its commitment to Egypt announcing plans for the company and its partners to invest U.S. $500 million in the country at the Egypt Economic Development Conference (EEDC) in Sharm El-Sheikh.

PepsiCo , which has been operating in the country for more than 50 years, reiterated the importance of its Egyptian operations during the conference, hosted by His Excellency President Abdel-Fattah El-Sisi.

"Egypt is the anchor of our North African operations and one of our most important and promising markets," said Omar Farid, PepsiCo 's President for the Middle East and Africa. "We have only scratched the surface of the long-term growth opportunities that exist for PepsiCo and our partners in Egypt, and we are confident that this investment will help us continue our momentum in the country."

Farid said the investment will be directed towards strengthening and expanding PepsiCo 's operations. The company operates 11 manufacturing facilities throughout Egypt, has approximately 47 distribution centers/warehouses/offices, and provides full-time employment to more than 10,500 Egyptians. Every year, PepsiCo and its partners also work directly or indirectly with 10,000 Egyptian farmers to expand their capabilities through modern farming techniques helping them expand their businesses. All of its Chipsy/Lay's chips in Egypt are locally sourced. "We have a laser focus on expanding into new categories and providing diverse product choices to meet the demands of our Egyptian consumers, in addition to growing PepsiCo 's footprint in new North African markets," said Farid.

PepsiCo also participated in a panel discussion about the future of Egypt's manufacturing and industry sectors, during which time Farid highlighted PepsiCo Egypt's success story, from the humble introduction of Pepsi-Cola more than 50 years ago to its evolution into a food and beverage powerhouse with a wide portfolio of brands ranging from soft drinks and potato chips to bread snacks, biscuits and nuts as well as juices and dairy products through its joint venture with Almarai. He reiterated PepsiCo 's commitment to, and confidence in, the country.

Hosted by President El-Sisi, the EEDC is a key milestone of the government's medium term economic development plan, which is designed to bring prosperity and improved social services to the people of Egypt. The EEDC highlighted the extensive reforms the Egyptian government has already implemented and showcased future reforms designed to restore fiscal stability, drive growth and attract investment with the overarching aim of improving the welfare of the Egyptian people. The conference presented investment opportunities to domestic and international investors across key sectors.

PepsiCo Egypt delivers a broad portfolio of well-known brands including Pepsi, 7UP, Mirinda, Chipsy potato chips, Doritos and Cheetos, and through its joint venture with Almarai produces Beyti -Tropicana juice and Beyti -Almarai dairy products. The company is strongly focused on innovation and on delighting consumers with a diverse and continually evolving product portfolio to meet consumer demand.

PepsiCo is a leader in social responsibility and has invested in the community for the past 15 years in programs that combat hunger through a food for education program, provide educational opportunities such as skills building and vocational training programs, supporting entrepreneurship and promoting the development of emerging football talent in schools through the Grassroots Pepsi Football League "Dawry Al Madares".

Farid's participation on the panel follows shortly after senior executives from PepsiCo met with several government officials to discuss measures being taken to boost direct and indirect investments in Egypt as well as sustainable development. During these meetings, PepsiCo highlighted Egypt's strategic location and other key advantages for multinationals operating in the country and reiterated its commitment to investing in and developing Egypt for years to come.