A new ongoing technological project in collaboration with Microsoft, aims to directly connect consumers with retail outlets, with a budget of EGP 500m, said Minister of Supply and Interior Trade Khaled Hanafy on Saturday.
“This project will provide future investors with information and data, reducing risks and encouraging them to pump further investment into the Egyptian market,” Hanafy said.
The announcement came during Hanafy’s speech during the second investment convention organised by Federation of Egyptian Chambers of Commerce (FECOC).
He added that the internal trade sector attracted more than EGP 5bn in foreign investment, in commercial store chains and trade zones, as a result of the ministry’s efforts to simplify regulations and procedures.
The Minister of Transportation Galal Al-Saeed said: “this is a decisive moment for investments in the transportation sector. We can see the determination of political leadership to the renovation of this sector through the national roads project.”
The national roads project added 5,000 KM to the transportation grid. Work is currently being done to complete axial roads in Sinai, the Suez Canal and the golden triangle—connecting Qena, Safaga, Al-Qaseer.
He mentioned that the ports of Alexandria, Hurghada, and Safaga have been renovated, while projects for renovating Damietta and Port Said’s ports are expected to follow.
The government aims to further improve the road, and railway connectivity of Egyptian ports, said Al-Saeed.