Egypt's Industrial Development Authority (IDA) allocated 95,000 square metres of land to Otsuka Egypt to build the new factory, which will be the company's second in the same city.
Egypt Otsuka is planning on exporting healthy food to countries in the Middle East and is considering launching an initial public offering on the Egyptian Exchange, said Ahmed Zaghloul, president of Egypt Otsuka, during a meeting with IDA's Chairman Mohamed Abdel-Karim.
Founded in 1992, Egypt Otsuka Pharmaceuticals’ first factory manufactures medicinal products including infusions/injections fluids, amino acids, and tube-feeding equipment.
Japanese investments in Egypt surged in FY2021/2022, even as trade between the two countries declined by 26.3 percent to $1.1 billion, up from $1.6 billion in FY2020/2021.
Egypt’s food industry exports increased by three percent year-on-year in the first two months of 2023, registering $665 million, up from $645 million.