Egypt, Malaysia to discuss investment opportunities in palm oil
The Malaysian company could benefit from the trade advantages of the African Continental Free Trade Agreement, foremost of which is the exemption from custom duties: minister
20/02/2023 (Zawya), Egypt - Minister of Trade and Industry Ahmed Samir has met with a delegation of one of the largest Malaysian companies, which is currently visiting Egypt, to discuss investment opportunities in the field of palm oil.
Samir noted that the Malaysian company could benefit from the trade advantages of the African Continental Free Trade Agreement, foremost of which is the exemption from custom duties.
He highlighted the ministry’s keenness to benefit from the great Malaysian expertise and technologies in palm oil production and its transfer to the Egyptian industry, so that Egypt would be a hub for manufacturing this promising product and exporting it to neighbouring markets.
He elaborated that the ministry is fully prepared to provide all means of support for the company to start its business in the Egyptian market and benefit from investment incentives offered by the Egyptian government to foreign investors.
For its part, the delegation explained that the company is one of the largest Malaysian companies in the production and refining of palm oil inside and outside Malaysia.
The company owns factories and refineries in many countries of the world in Asia, Africa and Europe, and the company also owns a group of companies that include various investment activities in various sectors, including logistics, cars and health services.
The delegation expressed the great interest that the company attaches to the Egyptian market as one of the most important investment destinations in the Middle East and Africa.
The company’s delegation visited Suez Canal Economic Zone in addition to holding meetings with the Federation of Egyptian Industries, Industrial Development Authority, the Chamber of Food Industries and the Holding Company for Food Industries and a number of Egyptian companies operating in this sector to discuss possible cooperation opportunities.