February 27, 2018
Good morning, Mr. Minister, distinguished guests, ladies and gentlemen.
Mr. Radvan, Mr. AbouOaf, it is a real pleasure to see you in Egypt and to be with you and your colleagues today to congratulate Mars, a major American company and the most well-known confectionary company in the world that has been working successfully in Egypt for close to twenty years, on this significant expansion of your production capacity.
Mars’ experience in Egypt, as we just heard, shows what American companies bring with them when they invest in an economy: not only the most sophisticated technologies in the world, but the most advanced and socially responsible management and business practices, as epitomized by what Mars is contributing to Egypt’s economy and society.
Mars’ experience in Egypt is an outstanding example of a U.S.-Egyptian partnership that benefits both our countries. America’s and Egypt’s commercial and economic ties are an integral part of our strategic partnership; they complement and support our strong security and political cooperation as we work together to eradicate terrorism and to make the world a better, more peaceful and prosperous place.
At the Embassy, we see Mars’ decision to significantly expand its operations as a strong sign of the momentum that is taking hold in Egypt’s economy. American companies clearly want to be part of the exciting new opportunities in Egypt.
We see investors and businesses that are gaining renewed confidence to start companies and expand existing operations. The World Bank projects that Egypt will have the highest GDP growth in the region for the next few years, and American companies don’t want to miss out. Just one indication of our blossoming economic cooperation is the 13 percent increase in trade between the United States and Egypt last year. We admire the decisiveness and comprehensiveness of the pro-business and pro-private sector policies that President al-Sisi and his distinguished team are putting in place.
I am proud that the United States Embassy has been able to work closely with Egyptian businesses and government agencies, including the Ministry of Investment and International Cooperation and the Ministry of Trade and Industry, to support bilateral trade, private sector-led growth, and increased job opportunities. We look forward to building upon and deepening this cooperation and relationship-building in the coming months.
Furthermore, through our collaboration with the private sector, we and development partners we work with through USAID are training and creating employment opportunities for Egyptian youth, and supporting policies that align the educational system and the needs of a modern market economy. We are also proud of that.
Thank you again for inviting me to share in this celebration of Mars’ growth and expansion in Egypt. We wish you the greatest success.