Nestle, Intel Denounce Rumors on Exiting Egypt

Nestle and Intel has issued statements today refuting false media reports that both multinationals are closing their offices in Egypt in light of the US Dollar crisis. Nestle Egypt reaffirmed its long-term commitment to the Egyptian market in a press statement published on social media.

Nestle denounces the false news, confirms commitment to the Egyptian market

Nestle said in a statement that was published online (corporate website, Facebook and twitter) that the company is Reaffirming its Commitment to the Egyptian Market. “Nestlé confirms its full commitment to maintaining operations in Egypt in line with its long-term strategy and the potential that the Egyptian market presents given the government’s serious steps towards development and stability.” said Nestlé in a press release.

Who started the the Nestle rumor?

Shorouk news published the rumor early this morning without verifying the news.

Intel has also denounced the rumors 

Intel denied shutting down in Egypt rumor but still didn’t confirm whether the company is moving its R&D department to India or not.

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