Ehab Saeed, Cairo Chamber of Commerce board member and head of the chamber’s Division of Communications Centers, said. “The presence of giant companies and their injection of investments in Egypt is the best evidence of the strength of the Egyptian economy. This is evidence that the Egyptian market is large and strong and can attract investments. These companies will provide many job opportunities,” he told Al-Monitor.

“Egypt is Africa's economic gateway to any foreign investor. Seeing their investments succeed in Egypt, foreign investors will become assured that their investments in other African countries will also be successful,” he added.

Saeed continued, “E-commerce has boomed over the past years. It became the most popular type of commercial activity among sellers and consumers of goods and services. Sales platforms and mobile phone applications are widely used by various categories of Egyptian people. The consumer prefers to choose the commodity via a phone application and receive it at his own home without having to go out to buy it himself from the merchant. This pushed many merchants to use technology and sales platforms to display their products.”

He added that Amazon’s presence in Egypt will push local companies to improve their products to gain the confidence of consumers and raise their competitiveness.

Source: ALMONITOR