Minister of Trade and Industry Neveen Gamea asserted that the ministry is keen on enhancing Egypt-UAE investment ties and beefing up the presence of UAE companies in the Egyptian market.
The minister’s remarks were made as part of a series of meetings she held with a number of major UAE companies willing to invest in Egypt including Al Maden Trading Company in Dubai and Noon for E-Commerce.
CEO of the General Authority for Investment and Free Trade (GAFI) Mohamed Abdel Wahab, Trade Minister’s Adviser for Institutional Liasion Hatem El Ashry and Minister Plenipotentiary Ashraf Hamdy attended the meetings.
In statements, Gamea said that Egypt is working on buttressing its capabilities to expand in the establishment of small solar stations as part of a strategy to opt for sustainable energy resources, noting that the state has recently launched a number of energy projects depending on the wind and solar energy.
She also noted that the ministry is working on easing travel movement in light of the challenges besetting world trade amid the coronavirus crisis.
During her meeting with a delegation of Noon company, the minister reviewed the company’s ongoing plans in the Egyptian market as well as future investments to expand in Egypt and the Middle East.
Talks also covered means of enhancing cooperation between the ministry and Noon in order to up the volume of Egyptian exports in the Gulf region especially in the UAE and Saudi Arabia markets.
The GAFI chief, for his part, said the authority is keen on enlarging cooperation with Noon in order to offer distinguished services for citizens, asserting that GAFI would extend all possible support to the company to expand the digital transformation plans and local production. He also noted that Noon will establish more warehouses in Egypt in the coming phase through its e-commerce marketing plans.
Source: State Information Service Egypt