Egypt's minister discusses retail sector development with Panda
The discussions focused on enhancing cooperation to strengthen the Egyptian market, stabilize prices, and ensure the availability of high-quality food products at competitive prices. Farouk emphasized the ministry's commitment to expanding partnerships with major private-sector companies like Panda to support economic growth and food security.
Since launching operations in Egypt in 2015, Panda has steadily expanded, investing EGP 2.5bn across seven branches. The company's first store opened in 6th of October City, followed by two branches in Nasr City in 2016, with total investments of EGP 92mn. Another store in Obour City followed, with an EGP 56m investment.
Panda officials reaffirmed their commitment to the Egyptian market, expressing readiness to support government initiatives aimed at improving supply chain efficiency and expanding distribution networks to better meet local demand.
This meeting is part of the ministry's broader efforts to strengthen ties with global companies, attract foreign direct investment, and enhance food security. The collaboration with Panda is expected to facilitate the expansion of joint projects, improve service quality, and offer competitively priced products to Egyptian consumers.
The two parties also explored knowledge exchange in storage and distribution, as well as the development of new operational strategies to enhance efficiency and minimize waste, ensuring that food products reach consumers with optimal quality and affordability.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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