Counsel Masters, Carrefour Egypt sign partnership to establish largest hypermarket in New Alamein

Council Masters and Carrefour Egypt have signed a partnership to establish the largest Carrefour hypermarket in New Alamein City. Egypt’s Minister of Supply and Internal Trade Sherif Farouk highlighted the project’s role in strengthening Egypt’s retail sector and enhancing market competitiveness.

Farouk stated that such initiatives not only support the national economy but also contribute to the development of the internal trade system. He underscored the importance of private sector involvement in expanding modern retail outlets, as this ensures product availability while providing consumers with a wider range of choices at competitive prices.

Furthermore, the minister reaffirmed the ministry’s commitment to fostering investment in the retail sector by creating a favourable environment for commercial projects. He also stressed that expanding modern retail networks is key to promoting competition, maintaining high-quality product standards, and ensuring fair pricing, all while preventing monopolistic practices that could negatively affect consumers.

In addition, the minister noted that the ministry supports the growth of retail outlets through both new projects and assistance to existing businesses. This approach, he explained, strengthens supply and distribution chains, reduces the gap between producers and consumers, and ultimately lowers costs for the public.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama