Egypt targets to direct LE9.76B investment in retail sector during 20/21

CAIRO – 6 October 2020: Egypt’s 20/2021 plan aims to direct total investments to the wholesale and retail trade sector amounting to LE 9.76 billion, representing 1.3percent of the total investment in the year of the plan, according to Minister of Planning and Economic Development Hala Al-Saeed.

Saeed referred to the strategic objectives of the supply and domestic trade sector, which are represented in providing food security by creating a safe strategic stock of strategic commodities sufficient for a period of three to six months, in addition to expanding the scope of internal trade, to increase its contribution to economic growth. 

Moreover, the objective include facilitating supply chains, in addition to stimulating competition and preventing monopolistic practices, as well as limiting loss and waste of food commodities in the stages of production, transportation, storage and marketing, in addition to strengthening the supervisory role of supply agencies in governorates, protecting consumers and preventing random trade in smuggled, unknown source and non-conforming goods.

The report of the Ministry of Planning and Economic Development indicated that the sector's targets in the 20/2021 plan, as the strategy of the Ministry of Supply and Internal Trade is based on several axes, namely: following up the implementation of the subsidized bread sale system in all governorates of the state, increasing the number of food supplies to more than 100 commodities, completing the development All consumer complexes and catering groceries are based on the latest international systems in storage and marketing, the completion of the development of 164 earthen shuns and their transformation into modern advanced shuns to receive the local wheat crop.

The axes also include developing the subsidiaries of the Holding Company for Food Industries to enhance its competitiveness in the local market and the external market, in addition to offering the lands of the commercial developer are required for investors to establish commercial chains and logistical areas, to complete the establishment and equipment of specialized technical laboratories to examine the commodities subject of consumers' complaints for speedy determination, in addition to developing commercial registration offices, trademarks and industrial models.