Egyptian President Abdel Fattah Al-Sisi swore in a new government on Saturday that included 16 new ministers.
Tarek Kabil was sworn in as Minister of Industry and Foreign Trade, replacing Mounir Fakhry Abdel Nour.
Kabil has been a partner at Abraaj Capital since October 2012. Abraaj is a leading private equity investor, with 25 purpose-built offices for operating in growth markets.
Kabil had worked in PepsiCo for 18 years and was appointed as president and CEO for the Middle East and Africa in 2008. PepsiCo is a global food and beverage leader with net revenues of more than $65bn and a product portfolio that includes 22 brands. In addition, Kabil worked as product supply director at Procter & Gamble (P&G) from 1992 to 1994. He worked as terminal operations manager at Arab Petroleum Pipelines Co. (SUMED) from 1979 to 1983.
There are serious files to be resolved awaiting the new minister, such as the decline of Egyptian exports, which fell by about 19% during the first seven months of 2015. In addition, providing investors with facilitated lands with reasonable prices is an ongoing concern, as well as providing them with energy needed for production.
One of the key industrial issues awaiting the minister is faltering factories, which were shut down after the 25 January Revolution.