General Authority for Investment Honors “L’Oreal Egypt” for its Leadership in Corporate Social Responsibility for the Year 2021

The General Authority for Investment and Free Zones honored L’Oreal Egypt, a cosmetics manufacturer, for its leadership in the field of corporate social responsibility for the year 2021. The recognition took place during a ceremony held at the Authority’s headquarters, where a new competition for leading companies in sustainable development for the year 2023 was also launched. The event was attended by Hossam Heba, CEO of the General Authority for Investment and Free Zones, along with numerous officials from the Authority and representatives of private sector companies operating in various fields and sectors in the Egyptian market. The ceremony recognized several leading companies in the field of corporate social responsibility as an encouragement for them to play their developmental role in supporting the community. The General Authority for Investment and Free Zones aims to appreciate the developmental role played by private sector companies and their real contributions in various areas such as health, education, culture, society, and the environment to achieve sustainable development goals. The Authority continuously works on improving the investment climate and encouraging environmentally friendly investments, providing all forms of support for companies to expand their activities in Egypt and overcome any obstacles they may face. Nehal Mokhtar, General Manager of External Relations and Sustainable Development at L’Oreal Egypt, expressed her delight at this recognition that crowns L’Oreal’s corporate efforts in Egypt, urging them to do more to achieve sustainable development goals. She emphasized that L’Oreal Group globally started its activities in Egypt in 2009 and opened its first factory in the region in 2013, which serves as a regional hub for manufacturing and exporting to the Middle East and North Africa. The investments reached 100 million euros over 10 years. Mokhtar highlighted L’Oreal Egypt’s commitment to the best environmental practices, including energy efficiency, effective resource consumption, waste reduction, achieving sustainable environmental performance, and reducing carbon dioxide emissions. In addition to supporting community responsibility initiatives that align with the “L’Oreal for the Future 2030” strategy, the company has implemented numerous programs that promote its commitment towards empowering diverse segments of society, especially women, achieving sustainability, and preserving the environment. Among L’Oreal’s community programs in Egypt are the “L’Oreal-UNESCO For Women in Science” program, aimed at enhancing women’s roles and contributions in scientific research, and the “Beauty for a Better Life” program in collaboration with the Ministry of Social Solidarity, Sawiris Foundation for Social Development, and CARE Egypt Foundation. This program aims to support women who are victims of domestic violence by empowering them economically. In addition to various initiatives involving collaboration with relevant authorities that focus on supporting women, education, training, health, and environmental commitments. Mokhtar also expressed gratitude to the Egyptian government and the General Authority for Investment and Free Zones for their support of investment, coordination, and excellent cooperation with the private sector to contribute to achieving sustainable development goals. It’s worth mentioning that L’Oreal’s factory in the Tenth of Ramadan City in Egypt has received two awards for sustainable development from the Federation of Egyptian Industries (FEI). L’Oreal Egypt has also launched 14 brands in the Egyptian market, with over 800 employees, 99% of whom are Egyptians.