Egypt offers support as Chalhoub plans retail, fashion investment

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met Thursday with Chalhoub Group Chairman Patrick Chalhoub in the UAE to discuss expanding the luxury retailer’s operations in Egypt and tapping into new investment opportunities

According to a ministry statement, The meeting held during El-Khatib’s visit to the UAE. It focused on Egypt’s push to attract foreign investment through recent financial, monetary, and trade reforms. These include faster customs clearance, reduced import costs, and simplified investment procedures.

He reaffirmed the ministry’s commitment to supporting Chalhoub’s expansion plans, pledging full cooperation in facilitating the company’s activities in the Egyptian market.

Chalhoub, whose company represents leading global brands in fashion, beauty, watches, and jewelry, expressed interest in scaling up operations in Egypt. The chairman outlined plans to introduce new brands, grow existing partnerships, and localize ready-to-wear clothing production to support exports from Egypt.

The move aligns with Egypt’s strategy to boost domestic manufacturing and leverage its position as a regional export hub.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser