Egypt's Investment Minister Discusses Cooperation Prospects With Indian Lulu Representatives

(MENAFN- Daily News Egypt) Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, met with a delegation from India's Lulu Group, including Najmuddin Ibrahim Kutty, CEO of Fair Exports (India) Pvt Ltd; Rakesh Ravi, the company's Commercial Manager and Director; and Hussein Sherif, Senior Director of Public Relations. The meeting, which took place at the Confederation of Indian Industry, focused on Egypt's economic policies and the investment opportunities available in the country, as part of El-Khatib's ongoing visit to India.

El-Khatib emphasized Egypt's openness to Indian investments, highlighting the government's ongoing efforts to create an attractive and supportive business environment. He discussed recent economic reforms designed to streamline investment processes and improve the overall climate for investors.

The minister stressed the strong potential for enhanced economic cooperation between Egypt and India, particularly in trade, industry, and logistics. He also noted Egypt's strategic position as a gateway to both African and European markets, providing significant advantages for investors.

During the meeting, El-Khatib reaffirmed Egypt's commitment to facilitating foreign investments and supporting projects that foster economic growth and job creation.

Najmuddin Ibrahim Kutty expressed the Lulu Group's strong interest in further expanding its presence in Egypt. He noted that the group currently operates nine Lulu Hypermarket branches in the country and plans to open more in the near future.

In addition, Kutty revealed that Lulu Group plans to establish cold storage facilities in Egypt to support the export of Egyptian products to global markets, further strengthening Egypt's position as a key player in global trade.

Rakesh Ravi, Commercial Manager of Lulu Group, described Egypt as a vital hub for expanding the trade of consumer goods. He also highlighted the role of Fair Exports (India) Pvt Ltd, a subsidiary of Lulu Group, in exporting meat, food products, spices, fresh fruits, and vegetables. He emphasized that this could open new avenues for increased trade cooperation between Egypt and India.

MENAFN17032025000153011029ID1109324029