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PepsiCo to Invest $100 Million in Egypt in 2010 - ASHARQ AL-AWSAT English Archive
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NEW YORK, (Reuters) – U.S. soft drinks and snacks maker PepsiCo Inc plans to invest $100 million in Egypt next year, a senior company official said in a speech on Thursday.

The company’s vice president for global public policy and government affairs, Elizabeth Avery, said “PepsiCo is investing $100 million in Egypt.”

A PepsiCo spokesman later confirmed the amount and that it would come in 2010.

Avery spoke briefly at a luncheon given by the Business Council for International Understanding in honor of Egyptian Trade and Industry Minister Rachid Mohamed Rachid.

Emerging markets, which are seeing growing urbanization and widening middle classes, are critical to Pepsi and rival Coca-Cola Co, as growth slows in more developed markets.

Coke said earlier this week that it expects emerging markets to contribute 60 percent of its incremental sales volume growth from now until 2020.

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Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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