The Minister of Investment and International Cooperation met with several representatives of international pharmaceutical companies operating in Egypt, including Sanofi, Novartis Egypt, Swiss Pharma, GlaxoSmithKline, Pfizer and Pharma. On their part, the representatives of the pharmaceutical companies expressed their wish to increase investments in Egypt, commending the procedures carried out by the Egyptian government to enhance the investment climate, by delivering incentives for investors. They noted that Egypt was one of the best markets that could become a hub of investments in the pharmaceutical field, owing to its distinctive geographic location and its large population.
Pfizer’s CEO revealed that his company wished to inject investments worth USD 50 million during the upcoming period. Novartis Egypt’s CEO mentioned that the company’s investments in Egypt reached USD 60 million, while Sanofi’s CEO stated that his company intends to inject investments worth EUR 70 million during the upcoming period.