Uber announced on Tuesday that it plans to invest over $20m in Egypt during the next five years through the establishment of a new service centre of the company in Cairo, according to Pierre-Dimitri, Uber’s Vice President and Regional General Manager for Europe, Middle East and Africa (EMEA).
Minister of Investment and International Cooperation Sahar Nasr opened Uber’s new centre on Tuesday, which is the first of its kind in the Middle East region. Nasr said that the new centre will provide more than 700 direct jobs to Egyptians and stressed the importance of developing transportation companies over the upcoming period and the keenness of the ministry to maintain a business and legislative reforms environment that guarantees the private sector’s continuation of injecting new investments.
The centre is expected to turn Egypt into a hub to support the company’s customers in the Middle East and North Africa (MENA) region, according to Dimitri. He pointed out that the Egyptian market is one of the fastest growing markets Uber is working in. He added that the newly opened centre is Uber’s first investment of this kind in MENA and the third after similar investments by the company in Europe.
“Through its investments in the Middle East over the past three years, Uber was able to help thousands to increase their income and improve the living conditions of their families. As for the centre, the company has already hired 30% of the total required number of specialists to work in the company’s new centre,” Dimitri said.
Uber is a global private-transportation company headquartered in California, and it operates in 633 cities worldwide. It launched in Cairo, Egypt in mid-November 2014.