New alamein city: Prime Minister Mostafa Madbouli expressed eagerness to work with global brands and producers to tap into the Egyptian market. He highlighted the size of the Egyptian market and the large number of citizens who travel abroad for shopping, stressing the need to provide access to international brands for both Egyptians and foreign tourists.
According to State Information Service Egypt, Madbouli made the remarks during a meeting with representatives of several major global brands at the government headquarters in New Alamein City. The meeting was attended by Deputy Prime Minister for Human Development and Minister of Health and Population Khaled Abdel Ghaffar. It brought together Claudine Caviac, strategic partner for leading global luxury brands, and Ibrahim Samy, also a strategic partner for top luxury brands.
Other attendees included Essam el Naggar, Chairman of the General Organization for Export and Import Control, Mohamed el Gousky, Assistant Minister of Investment and Foreign Trade for Planning, Development, and Digital Transformation, and Amani el Wassal, head of the Agreements and Foreign Trade Sector at the Ministry of Investment.
Madbouli noted that the economic reform measures taken by the government and the Central Bank had helped stabilize the foreign exchange market, particularly under the flexible exchange rate policy, which facilitated the inflow and outflow of foreign currency and helped maintain exchange rate stability.
Abdel Ghaffar reiterated the Egyptian government's commitment to attracting global brands and promoting shopping tourism, pointing to the incentives and advantages offered to investors, including exemptions linked to the 'Eur 1' certificate.
During the meeting, Caviac expressed her pleasure to be in Egypt again, noting she had visited previously for both business and leisure. She praised the progress and stability Egypt has achieved in recent years and said she would study the market potential for global brands to operate in Egypt. She pledged to share the findings with the companies she works with and expressed her belief in the promising investment opportunities available in the country.
Caviac also noted her intention to attract successful models to operate in Egypt through creating a positive shopping experience for both locals and tourists as part of efforts to support shopping tourism. Samy also voiced his interest in investing in Egypt and bringing his expertise to the market, as well as his ambition to help global brands establish a presence in the country.