The UAE's Al Futtaim Group plans to invest $700 million to $1 billion in Egypt over the next three years.
Al Futtaim Group CEO Omar al-Futtaim said the group has been in the Egyptian market for 40 years, stressing that the group is expanding its investments in the Egyptian market and has a vision to invest from $700 million to $1 billion in Egypt over the next three years.
This came during a meeting between Egyptian Prime Minister Mustafa Madbouli and Omar al-Futtaim, CEO of the Group, in the presence of Nevin Jama, Minister of Commerce and Industry of Egypt.
Egyptian Prime Minister Mustafa Madbouli said his country is seeking to strengthen the role of the private sector in investment in the coming period, and to prepare a "state ownership policy document" to be put forward for community dialogue, in preparation for its implementation in addition to direct contact with investors.
Al-Futtaim has been working in Egypt for 40 years in a variety of sectors between shopping malls, retail, hotels and residential complexes.