The French firm Lesaffre has announced plans to double its current investments in Egypt to around $100 million, according to a statement released by the Ministry of Investment and Foreign Trade.

Minister of Investment and Foreign Trade, Hassan El Khatib, discussed Lesaffre’s investments in Egypt during his ongoing visit to Paris.

The Minister has held several meetings with French companies interested in investing and expanding in the Egyptian market.

Among the companies that attended these meetings were L’Oréal, operating in the pharmaceutical and cosmetics sector; Sanofi, active in the medical industry; Lesaffre; the Rothschild Group; and Eurazeo.

These meetings addressed the expansion plans of the respective companies within the Egyptian market, as well as the incentives required to facilitate these investments.

In the meeting with Sanofi, the Minister discussed the company’s activities in Egypt.

The company, through its factory in Egypt, sources around 77% of its production inputs locally to manufacture products for the Egyptian market.

El Khatib’s discussions with L’Oréal highlighted the company’s activities in the Egyptian market.

 L’Oréal is one of the prominent companies in the cosmetics sector in Egypt and exports approximately 85% of its production to the Middle East and North Africa, with a minimum annual growth projection of 10%.

The Minister’s meeting with the Rothschild Group focused on exploring investment opportunities in Egypt.

 The Rothschild Group is one of the world’s largest independent financial institutions, employing 4,200 people across 49 countries and managing an investment portfolio valued at around €108 billion, with total revenues estimated at €2.5 billion.

Additionally, the meeting with Eurazeo covered available investment opportunities in Egypt. Eurazeo operates in the fields of infrastructure and energy transition and has plans to invest further in areas like artificial intelligence and asset management.

 The group is exploring the potential for establishing a presence in the Egyptian market, especially in sectors such as infrastructure, logistics, and asset management.