Thursday 03 Apr
Minister of Investment and Foreign Trade, Hassan El-Khatib, met with a delegation from India's Lulu Group to explore avenues for expanding their investments in Egypt. The delegation, including key executives from Lulu's subsidiary, Fair Exports (India) Pvt Ltd, discussed Egypt's economic policies and investment opportunities during the meeting held at the Federation of Indian Industries in India.
El-Khatib emphasized Egypt's welcoming stance towards Indian investments and the government's commitment to creating an attractive investment environment. He highlighted the strategic importance of the Egypt-India partnership in enhancing economic cooperation across various sectors, particularly trade, industry, and logistics. He also underscored Egypt's strategic location as a gateway to African and European markets, making it a prime destination for investment.
The Minister detailed the economic reforms undertaken by the
Egyptian government to improve the business climate and attract foreign
investment. He reiterated Egypt's commitment to providing necessary facilities
for investors and supporting projects that contribute to economic growth and
job creation.
Najmuddin Ibrahim Kuti, CEO of Fair Exports, expressed Lulu Group's keen interest in expanding its presence in Egypt, where they currently operate nine hypermarket branches. The group plans to further expand by opening new branches and establishing cold storage facilities to support export operations from Egypt to global markets. Rakesh Ravi, Commercial Director, highlighted Egypt's strategic role as a hub for consumer goods trade, noting Fair Exports' specialization in exporting meat and food products, which offers significant potential for increased trade cooperation.
