El-Khatib: Egypt’s business climate ready for Indian investments

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with Indian Lulu Group representatives to discuss economic policies and investment opportunities in the country, an official statement said on Monday.

During his visit to India, he highlighted Egypt’s openness to Indian investments and commitment to creating a favourable investment environment. He also highlighted government efforts to enhance the business climate and streamline investor procedures.

El-Khatib also emphasised that the partnership between Egypt and India presents a promising opportunity to enhance economic cooperation across various sectors, particularly trade, industry, and logistics. He stressed the importance of leveraging Egypt’s strategic location as a gateway to African and European markets.

He discussed Egypt’s economic reforms to enhance the business environment, attract foreign investment, and offer promising investment opportunities. El-Khatib highlighted Egypt’s commitment to supporting investors and projects that stimulate economic growth and job creation.

Meanwhile, Najmuddin Ibrahim Kutty, CEO of Fair Exports (India) Pvt Ltd, expressed interest in expanding investments in Egypt. The group owns nine Lulu Hypermarket branches in Egypt and plans to open more.

He also highlighted plans to establish cold storage facilities to support export operations from Egypt to global markets.

Rakesh Ravi, commercial director of the Indian Lulu Group, highlighted Egypt’s strategic importance for expanding consumer goods trade. He added that Fair Exports (India) Pvt Ltd, a Lulu Group subsidiary, focuses on exporting meat, spices, fresh fruits, and vegetables, fostering trade cooperation between the two nations.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama