Al-Shaya Group keen to further expand ‘investments’ in Egypt

Move will increase job opportunities

Minister of Trade and Industry Khalid Al-Roudhan presenting Saudi Minister of

Trade and Investment Majid Al-Gosaibi with a memento. CAIRO, Oct 1, (KUNA): Egyptian Prime Minister Mustafa Madbouly discussed injecting new investments and expanding upon current investments in Egypt with Kuwaiti businessman Mohammad Al-Shaya, state media said on Sunday.

During the talks, attended by Egypt’s Investment Minister Sahar Nasr, Madbouly pointed out to a number of projects the Al-Shaya Group could be a part of and invest in, according to MENA news agency.

Both sides have expressed “strong keenness on this cooperation,” added the reports.

Providing the necessary land plots for shopping centres or hotels is not a problem, the minister told the Al-Shaya Group chairman, as several sites in newly-developed areas are ready.

The Egyptian government now has the experience needed to cooperate with private businesses and stands ready to remove any obstacles to these investments, he said.

Al-Shaya, for his part, said the group was seriously considering the offer and has several ideas, including building another The Avenues Mall in the country.

The move would have a positive impact on tourism and would offer increased job opportunities, he said.

The group is a regional agent for around 100 global retail brands and owns stores in 22 countries in the Middle East and North Africa region, including Egypt.

The Public Authority for Agriculture Affairs and Fish Resources (PAAAFR) announced on Monday lifting the ban on all kinds of live birds, one-day old chicks and hatching eggs from Sweden, after determining that these products from this nation have become free of bird flu.

The authority affirmed in a statement to KUNA that all orders should be subject to conditions and controls of PAAAFR’s animal health department, in accordance with the veterinary quarantine regulations in Kuwait and other GCC countries.

Imports of poultry infected with epidemic and infectious diseases will be rejected and the importer will compelled to send back the cargo on his (her) own expense.