Egypt's Minister of Investment and Foreign Trade Hassan El Khatib held high-level meetings with executives from major international firms on the sidelines of the World Economic Forum in Davos, Switzerland, to review investment opportunities in key sectors of the Egyptian economy. The discussions aimed at strengthening economic cooperation with global partners and showcasing the government's reform agenda to improve the investment climate. The talks involved Uber, Olayan Group, and UPL, focusing on smart transportation, agriculture, and energy.
Minister Hassan El Khatib met with Uber's Global Chief Operating Officer Andrew Macdonald to discuss the company's operations in Egypt and expansion plans in smart transportation and technology. He emphasized that Egypt is one of Uber's key markets in the region, with strong demand and a broad user base, especially in Greater Cairo. El Khatib highlighted Uber's role in supporting the smart transport ecosystem, creating income opportunities for thousands of drivers, and providing direct employment via customer service centers.
The minister pointed to significant opportunities in the tourism sector for smart transport firms, as part of Egypt's strategy to double tourist arrivals by 2030. He stressed that developing dedicated transport services at airports and tourist sites, along with improving quality and responding to feedback, enhances the tourist experience and boosts competitiveness.
Uber officials described the company's operations in Egypt, supporting around 150,000 drivers and serving nearly two million users monthly. They noted a regional customer service center employing 400 Egyptian staff for Europe, the Middle East, and Africa, with plans for further expansion and investment. The officials reaffirmed Uber's interest in tourism services and cooperation with the government to improve quality and economic contributions.
In discussions with Olayan Group Chief Operating Officer Saleh Merghany, El Khatib reviewed investment opportunities and the group's local and regional strategy. The minister underscored Egypt's full support for foreign investment to ensure a smooth journey. Merghany described Egypt as a business incubator for the group, with plans to expand in food, energy, and healthcare sectors.
El Khatib's meeting with UPL Group Chairman and CEO Jai Shroff covered the Indian firm's activities in Egypt's agricultural sector, including projects, ports, imports, seeds, and technologies for coating citrus and mangoes to preserve export quality. The minister outlined Egypt's national food security strategy under President Abdel Fattah Al Sisi, increasing cultivated land from six million to nine million feddans, with plans for an additional 4.5 million. He explained efforts to transfer major agricultural projects to the private sector under sound governance to improve efficiency.
El Khatib also highlighted benefits from India's digital financial inclusion experience, such as the national digital ID for services and payments. He noted Egypt's population of around 110 million, with 60% under 30 and 30 million in education, supporting growth in agriculture and technology. In conclusion, the minister reaffirmed Egypt's commitment to cooperation with investors to enhance the business environment and position the country as a launchpad for projects.