U.S. online retail company Amazon, which owns Souq.com, is planning to expand its services in the Egyptian market, notably in the field of e-commerce.
According to a statement issued by the Egyptian government Aug. 11, executive director of the General Authority for Investment and Free Zones Mohamed Abdul Wahab met with Souq.com’s General Manager Omar el-Sahy and Amazon’s head of public policy and regional operations manager Dalia Seif to discuss Amazon’s plans in the North African country
Mohammad Azzam, the International Association for Management of Technology’s board member, praised Amazon’s presence in the Egyptian market.
Amazon is one of the biggest companies in the world in the e-commerce sector and holds a market value of about $1.6 trillion, Azzam added.
The company’s expansion plans in Egypt a good step that underlines its interest in the promising Egyptian market in this field.
Egypt’s e-commerce sector, since Egypt’s competitive trait lies in its geographic location as it constitutes a starting point for neighboring markets, especially given its logistics presence on the Suez Canal axis.
Besides, Egypt is a key player in the Belt and Road Initiative. As a result, the Egyptian market reaches up to 2 billion consumers [worldwide] rather than just 100 million.
In its August 11 statement, the government indicated that Amazon intends to continue its expansion in the Egyptian market and make a variety of services available, including artificial intelligence and digital payment.
