Investment min, Uber VP discuss expanding company's investments in Egypt

CAIRO – 12 April 2017: Minister of Investment and International Cooperation Sahar Nasr met on Wednesday with Uber's Senior Vice President of Business Emil Michael, currently in a visit to Egypt.

The minister reviewed legislative and administrative measures taken by the government to create "an investment-attracting climate", the ministry said in a statement Wednesday.

Nasr further affirmed the importance attached by the government to remove all obstacles facing investors and to lure more investments in various sectors.

Commenting on Uber's presence in Egypt, the minister indicated that the Cabinet has approved a draft law regulating the transport of passengers via private cars through information technology.

The Cabinet submitted the bill to Egypt's State Council for approval, Nasr said, noting that the ministry is keen to remove any obstacles encountered by Uber in Egypt.

Uber contributes to providing special service in the Egyptian market; which would lead to the company's expansion in accordance with the law, she added.

Meanwhile, Michael praised the steps taken by the Egyptian government to facilitate the company's work in the country, noting that Uber wants to expand its activities in Egypt.

Uber’s official also hailed the economic reform measures taken and their role in enhancing the business environment.

Egypt's President Abdel Fatah al-Sisi's latest visit to the U.S. encouraged a large number of U.S. companies to increase their investments in Egypt, he said.