UK delegates hunt joint projects in Cairo
A delegation of British businessmen representing 33 companies has arrived in Cairo to discuss joint projects with Egyptian businessmen, Egyptian newspapers reported last week. Two hundred Egyptian and British businessmen attended a symposium held this week by the Egyptian Agricultural Studies Center.
The British Commercial Attaché in Egypt briefed the visiting delegation on the size of the Egyptian market and the investment opportunities in the market. The British businessmen toured a number of modern agricultural projects in Egypt and met with members of the Egyptian - British Businessmen Association.
The success of the British Sainsbury Company in the Egyptian market has prompted the French Carrefour and German Metro companies to begin studying the status of supermarkets in Egypt. According to ArabicNews.com, Metro's decision to enter Egypt came during a recent visit to Egypt by the
German President and several German businessmen to Egypt.
A delegation from the French company is due to visit Cairo to prepare a work plan in conjunction with the Egyptian Ministry of Supply. An Egyptian source speaking on condition of anonymity said Carrefour and Metro companies are planning to establish a chain of supermarkets in the suburbs of Cairo, away from the traffic jams typical of downtown Cairo.
The source said that the two companies are expected to invest nearly LE1 billion in the first stages of business in the Egyptian market. – (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)