Swiss food major Nestle is planning to invest over EGP1bn ($137.93m) in Egypt over the next few years where food is considered as a fast-growing sector.
The proposed investment will be used in manufacturing, new products and the nutrition and health industries, Reuters reported.
The political and economic instability has not stopped Nestle from investing in the country.
Nestle North East Africa Region CEO Suresh Narayanan was quoted by Reuters as saying: "Certainly the kind of investments we have made over the last three to four years are the kind of vision that we would have for this market also going forward.
"I believe the steps that are being talked about in terms of improving the investment laws, improving the laws of labor, improving the overall friendliness that the country has towards investments, all augurs well."
Meanwhile, Egypt plans to introduce a new investment law by March, in a move to create a one-stop shop for foreign companies frustrated by bureaucracy, according to the news agency.
Earlier in June 2014, Nestle opened its first-ever confectionery plant in Egypt.
In addition to Nestle, other food and beverage retailers such as Coca-Cola, PepsiCo and Saudi Arabia's Almarai have announced investments in the country.
Image: Earlier in June 2014, Nestle opened its first-ever confectionery plant in Egypt. Photo: courtesy of Nestle.
