The Indian Lulu Group plans to establish cold storage facilities in Egypt, supporting the country's export operations to global markets. This initiative aligns with Lulu's strategy to expand investments and strengthen its presence in Egypt.
Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, met with a Lulu International Group delegation to discuss economic policies and investment opportunities. El-Khatib emphasized Egypt's commitment to attracting Indian investments by fostering a business-friendly environment. He noted government reforms aimed at enhancing the investment climate and streamlining procedures for foreign investors.
El-Khatib stated, "The partnership between Egypt and India holds significant potential for strengthening trade, industry, and logistics cooperation." He highlighted Egypt's strategic location as a gateway to African and European markets. The government aims to facilitate new projects, stimulate economic growth, and generate job opportunities, making Egypt an attractive destination for international investors.
Najmuddin Ibrahim Kuti, CEO of Fair Exports (India) Pvt Ltd, a Lulu Group subsidiary, expressed interest in expanding in Egypt. Lulu Group operates nine Lulu Hypermarket branches in the country and plans additional openings to reinforce its local presence. Kuti detailed plans to establish cold storage facilities to enhance Egypt's export capabilities and unlock new opportunities for Egyptian products in global markets.
Rakesh Ravi, Commercial Director of Lulu International Group, highlighted Egypt's strategic importance in expansion plans, particularly in the consumer goods trade. Fair Exports specializes in exporting meat, spices, fresh fruits, and vegetables, further expanding trade opportunities between Egypt and India.
Source: Egypt Today