UAE-Indian Lulu Group International opened its first branch in Egypt on Saturday at 300 million EGP investments.
Egyptian Minister of Supply Khaled Hanafy - accompanied by the Cairo governor and the Indian ambassador in Cairo - inaugurated the branch.
The company plans to pump 3 billion EGP investments into Egypt within two years, Lulu Group Managing Director Yusuff Ali M.A. said.
He added that the company will open 10 branches in various Egyptian governorates and will secure 10,000 jobs for Egyptians.
The company sends 50-million EGP Egyptian products of fruits, vegetables, meat and cheese to its branches abroad.
Working in the retail trade sector, the company's hypermarkets will be the most popular in the region, he said.
He said Egypt is a key market for UAE companies as there are about 600 UAE firms operating in Egypt.
LuLu Group International today is a highly diversified entity with operations spanning a vast geographical landscape. Spearheaded by the retail division, the group has interests in Imports & Exports, Trading, Shipping, IT, Travel & Tourism and Education.
A true follower of ethical business practices, the group is a key partner in the development of the community.