Arab Finance: UAE-based Al Futtaim Group intends to increase investments and explore new opportunities in several sectors in the Egyptian market, CEO Omar Al Futtaim said.
In his meeting with Minister of Investment and Foreign Trade Mohamed Farid, Al Futtaim explored ways to expand the group’s presence in Egypt, lauding the government’s efforts to improve the business climate.
In turn, Farid emphasized commitment to supporting existing investments and creating a favorable environment for companies to expand and increase their operations.
The minister further highlighted ongoing efforts to digitize and streamline investment procedures, reduce administrative burdens, and accelerate transaction processing.
Officials explored potential cooperation in logistics, the development and management of commercial and administrative complexes, energy projects, and investment zones.
Both sides discussed developing logistics projects to support industrial and commercial activities, strengthen supply chains, and improve market access for Egyptian exports.
In June, Egyptian master developer MIDAR and Majid Al Futtaim signed a deal to develop a mixed-use urban project in New Cairo, with an initial development value exceeding $3.1 billion
