El-Khatib discusses Majid Al Futtaim's expansion plans in Egypt
Updated 1/22/2025 2:00:00 PM
Arab Finance: Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib has met with Ahmed Galal Ismail, CEO of Majid Al Futtaim Holding, to discuss the group’s current and future business in the Egyptian market, as per a statement.
On the sidelines of the World Economic Forum (WEF) meeting in Davos, Ismail highlighted that the group is looking forward to strengthening its presence in Egypt and creating more job opportunities.
Through its expansion plan, Majid Al Futtaim targets opening more Supeco and Carrefour stores across various Egypt to meet the consumers' needs.
On his part, El-Khatib stated that the investment environment in Egypt witnessed positive transformations in recent years due to the economic reforms adopted by the government.
He affirmed that the Emirati group’s expansions will help reinforce the local economy and create many job opportunities, contributing to the retail sector’s growth acceleration.
The Egyptian government is working to provide full support and required incentives to foster local and foreign investments, which will drive economic growth, El-Khatib mentioned.
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