Ministry of Investment and International Cooperation and the National Service Project of the Armed Forces signed a cooperation protocol with Majid Al-Futtaim to establish 100 Carrefour retail stores in different governorates of Egypt.
The protocol was signed by Minister of Investment and International Cooperation Sahar Nasr, Regional Chairman of Majid Al Futtaim in Egypt Abdullah al Nuqrashi, Director of the National Service Project of the Armed Forces Mustafa Amin.
Nasr said that this protocol came within the framework of carrying out the directives of President Abdel Fatah El-Sisi to pump new investments that support the provision of commodities, including basic commodities, to Egyptian citizens with high quality and low prices.
Nasr added that this protocol will contribute with reviving the Egyptian economy and providing direct and indirect job opportunities.
She added that these retail stores will be established using investment zones system which provides incentives and privileges to the investor, ultimately reflecting on the interest of the citizen.
Regional Chairman of Majid Al Futtaim in Egypt Nuqrashi commented that signing this protocol reflects Majid Al Futtaim‘s commitment to support the Egyptian social and economic development.
Majid Al Futtaim currently has 37 Carrefour retail stores in Egypt, providing a wide range of high quality products with competitive prices to combat the price inflation that the Egyptian society faces.