Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, met Tuesday with a delegation from the UAE-based Majid Al Futtaim Group. The delegation included Diaa Yahia, Regional President of Majid Al Futtaim Properties in Egypt, and Mohamed Tolba, Chairperson of Majid Al Futtaim Integrated Solutions. The meeting reviewed the group’s current projects in the Egyptian market and discussed future investment expansions for the upcoming phase.
The meeting was also attended by Hossam Heiba, Chairperson of the General Authority for Investment and Free Zones, along with several ministry officials.
The Minister emphasized the ministry’s role in providing full support to investors, highlighting its commitment to creating a favorable and attractive environment for local and foreign investments.
El-Khatib also stated that the ministry coordinated with all relevant ministries and authorities to reduce the number of entities involved in investment projects, aiming to alleviate the burden on these projects. He further noted that the ministry would work in the next phase to offer additional facilities to ease export and import processes, ultimately boosting Egypt’s foreign trade.
The Majid Al Futtaim delegation highlighted that the group’s projects experienced significant growth in the fields of services, real estate, and retail. They pointed out that the group operated in 17 countries, providing around 42,000 job opportunities, of which more than 11,000 were for Egyptians.
The delegation also underscored that Egypt is one of the top three countries in the group’s investment priorities, revealing that their investments in Egypt have surpassed $2.5bn. They also mentioned plans for further expansion of the group’s activities in the Egyptian market.
