Chinese Investors to Open Hypermarket in Cairo
By Mai Aljazairy
The governor of Cairo, Khaled Abdel ‘Aal, met with Chinese investors on Saturday 13th, to discuss mutual interests and relations between the two countries, according to an official statement from the Cairo Governorate.
During the meeting, the governor mentioned Cairo’s new economic vision and how the upcoming plan is to make the capital more attractive to foreign investment. He also pounted out the geographical location of Cairo, being at a crossroads between many important harbours and sea ports in the country such as Alexandria, Port Said, Suez, and Hurghada, an added incentive for investors.
The Chinese investors agreed by revealing how they studied the Egyptian market before investing in it. They stated that new laws and regulations encouraged them to enter the market. They also mentioned how strong their background in the field of retail and wholesaling is, since they already own a hypermarket in China, Dubai, and soon, in Lebanon. The governor expressed his enthusiasm at the opportunity in working with China, adding that this project will create 100,000 jobs.