Xylem official explains reasons behind choosing Egypt for company's water pump investment
Senior VP, President, Emerging Markets at Xylem, Franz Cerwinka, clarified the reasons behind choosing Egypt to be the destination for the company’s water pump investment, instead of expanding its existing operations in other countries in Africa.
“Egypt is a larger economy, and growing faster,” Cerwinka told Egypt Today that this is the main reason for picking Egypt for the company’s investment.
Cerwinka also added that having the proper local partner helped the company to take the investment decision. “You don't always find the right partners that you can actually do business with and trust. It's not like we can show up, I can show up in Algeria and knock at different doors and find the right partner,” he stated.
“Egypt because of its size, the infrastructure that has been put in place, the water challenges that it has, which are, in many cases, similar, especially around food, and the inputs, all the import of food that Egypt gets from overseas, and all the investments that are going into the irrigation space, and so on, it just makes it really attractive,” he said.
Senior VP, President, Emerging Markets at Xylem elaborated that there's a lot of spending going on in this sector. So , if there's a market, if it's growing, if it's large, and we have a great partner, go for it.