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Egypt's food industry growth rate expected to rise by 8-10% in 2018 - official

Egypt's food industry growth rate is expected to up by 8 to 10 percent in 2018,Egyptian Chamber of Food Industries Chairman Ahsraf el Gazairi said.

The food sector's investments hit LE 500 billion in 2017, Gazairi said in statements on Wednesday on the fringe of Gulfood 2018 currently held in Dubai. 

Gulfood is the world's largest annual food trade show, its 23rd edition taking place in Dubai on Feb 18-22, 2018. 

Gazairi expected food prices in the Egyptian market to be stable in the coming period. 

He hailed a recent decision by the Central Bank of Egypt on downing the interest rate as contributing to stabilizing prices and boosting investments in the industrial sectors. 

He extolled the recent laws adopted by the Egyptian government as positively affecting the industrial sector in general and the food industry in particular. 

He deemed the laws of investment, industrial license and food safety as the most important legislation for luring investments in the coming period and improving the quality of local products to be able withstand international competition. 
 

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