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Nestle plans major investment in Egypt

Nestle plans to invest around EGP1bn ($172m) in Egypt over the next three years in a push to shift its focus to emerging markets, Reuters has reported. Nestle will invest EGP450m in Egypt this year and another EGP500m over the following two years, compared with about EGP1bn over the last decade, executive vice president Frits van Dijk said.