The Minister of Investment discusses with DP World leaders opportunities to expand distribution centers and enhance trade integration with African markets.
As part of the state's efforts to enhance Egypt's position as a regional hub for trade and logistics, and in line with the Ministry of Investment and Foreign Trade's strategic objectives aimed at supporting investment flows and expanding access to regional and international markets, Dr. Mohamed Farid, Minister of Investment and Foreign Trade, met with Rizwan Somar, CEO and Managing Director of DP World for the Indian Subcontinent, Central Asia, the Levant, and Egypt, and other company leaders. They discussed plans to expand distribution and logistics centers and boost trade with African markets.
The meeting was attended by Counselor Ali Azab, Assistant Minister for Legislative and Legal Affairs, Mohamed Ayad, Assistant Minister for Media Promotion and Information, and Ahmed Badawi, Head of Promotion at the General Authority for Investment and Free Zones. Representing DP World were Mohamed Shehab, Executive Vice President for Egypt and the Levant, and Mohamed Tarek, Head of Government Relations and Public Policy for Egypt and the Levant.
The Minister affirmed that the state is implementing a comprehensive strategy to improve the investment climate, streamline procedures, and develop legislative and regulatory frameworks to attract local and foreign investments, while removing obstacles for investors and supporting the expansion of international companies.
He pointed out that Egypt possesses a unique geographical location that qualifies it to be a regional hub for trade, distribution, and logistics services serving Africa, Europe, and the Middle East, with a focus on developing infrastructure, ports, and logistics zones.
He explained that strengthening cooperation with Africa is a priority for increasing exports and accessing foreign markets, while leveraging logistics distribution networks in the east, west, and south of the continent to support Egyptian products.
The Minister emphasized the importance of organizing meetings between the company and Egyptian exporters to connect Egyptian products with African distribution networks, thereby boosting exports and capitalizing on regional and continental trade agreements.
He also highlighted the importance of the company's networks in markets such as Nigeria, South Africa, and East Africa in supporting access for Egyptian products, while providing effective distribution channels that enhance international competitiveness.
He explained that the government is working to develop the regulatory framework for distribution and logistics centers and extend its benefits nationwide, thereby increasing the efficiency of supply chains, reducing costs, and enhancing Egypt's attractiveness as a regional distribution and re-export hub.
He also noted the expansion of integrated logistics centers based on a turnkey operating model that provides comprehensive infrastructure and services through a single entity, while also focusing on developing logistics zones to achieve a balance between investors and the state's economic returns.
He emphasized that the state offers a comprehensive investment model based on readily available infrastructure, streamlined procedures, and reduced operational burdens, while supporting productive and export-oriented investments.
The minister affirmed that the ministry will work in coordination with export councils and relevant export development bodies to organize specialized technical meetings between DP World and Egyptian exporters. These meetings aim to showcase opportunities in African markets and highlight Egyptian products capable of accessing those markets.
He further explained that the state encourages innovative energy and infrastructure solutions within investment projects to achieve sustainability, improve operational efficiency, and strengthen partnerships with the private sector.
For his part, Rizwan Somar expressed the company's appreciation for the developments in Egypt's business environment, emphasizing the promising opportunities for expansion thanks to its strategic location connecting Africa, Europe, and Asia, which strengthens Egypt's position as a regional hub for distribution and logistics.
He explained that the company possesses extensive logistics networks in key African markets, including South Africa and Nigeria, and manages distribution operations extending to hundreds of thousands of points of sale. This provides significant opportunities to enhance the accessibility of Egyptian products, with the aim of connecting Egyptian exporters to these networks and exploring the possibility of expanding by establishing new distribution and logistics projects in Egypt.