Economy needs investments to counter unemployment: Pepsi Regional Manager

The Egyptian economy is facing challenges impacting the Pepsi Company and consumers, with investment the only solution to overcoming economic challenges, according to Ahmed El-Sheikh, Pepsi Regional Manager in MENA.

El-Sheikh added that investment is the main gateway to employment, and there is a need to face the economic slowdown.

In a press conference Sunday, in the presence of Investment Minister Ashraf Salman, El-Sheikh said 2015 is the year of change on all levels: economic, political, security, and the global power map.

He added that the plan for economic reform has to contain revolutionary energy subsidy reform, and comprehensive tax system reform. El-Sheikh also clarified that the current Central Bank of Egypt (CBE) trend allowing the Egyptian pound to retreat against the US dollar is good and will send positive messages to the global financial and business communities.