Egypt's Investment Minister Meets Sugar Producers To Review Market Conditions, Boost Investment

(MENAFN- Daily News Egypt) Mohamed Farid Saleh, Minister of Investment and Foreign Trade, held a meeting with officials from sugar production companies in Egypt to review current market conditions. The discussions also focused on strengthening the balance between domestic production and consumption and developing balanced mechanisms for import and export through appropriate trade policy tools.

The meeting comes as part of the ministry’s efforts to further organise the market and provide the necessary support for local industry, while ensuring the availability of supply and distribution chains and enabling companies to achieve their production targets.

Participants included Shehab Marzban, Chairperson of Eastern Sugar Company; Kamel Abdallah, Chairperson of Canal Sugar Company; Emad Farid, Chairperson of Nile Sugar Company; and Mahmoud Fouda, Chairperson of Savola.

Farid said the government attaches significant importance to the value chains of strategic commodities, including sugar. He noted that ongoing coordination with the private sector represents a key pillar in ensuring regular production and maintaining the availability of goods in the market.

He also pointed to the ministry’s commitment to studying cost structures in the food industries sector to ensure the sustainability of production. The meeting reviewed changes in actual production costs amid current economic pressures and explored ways to achieve a strategic balance that safeguards the interests of both producers and consumers.

Farid stressed that market stability begins with regulating import and export mechanisms, while continuing to support and localise existing industries. He also highlighted the importance of enhancing added value across both the agricultural and industrial sectors and providing a transparent and predictable investment environment for all stakeholders.

The meeting further reviewed production updates from the participating companies and discussed regulatory measures governing the circulation and distribution of sugar in the domestic market, as part of government efforts to ensure adequate supply and maintain a balance between production and consumption.

For their part, representatives of the sugar production companies expressed their appreciation for the partnership-based approach adopted by the Ministry of Investment and Foreign Trade, emphasising their commitment to cooperating in implementing recommendations aimed at ensuring stable supply and meeting domestic demand.

They also stressed the importance of continued coordination between the ministry and the private sector to strengthen production sustainability and maintain balance in the domestic market.

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