Five foreign retailers study expansion into Egypt soon

Five foreign retailers plan to enter the Egyptian market in the coming period, with more than $67 billion to invest, head of the Egyptian Council for Shopping Centres said Thursday.

The five retailers are from the United States, Germany, France, UAE, and Saudi Arabia, Elhamy Elkerdany told Amwal Al Ghad on Thursday.

The volume of investments made by retail chains operating in Egypt currently amounts to around $40 billion, Elkerdany said.