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Uber expanding its business in Egypt

Minister of Investment and International Cooperation Dr. Sahar Nasr met with Mr. Emil Michael, Vice-President of Uber in the US, on Wednesday,  during his visit to Egypt.

Dr. Nasr gave an overview of the legislative and administrative procedures taken by the government to provide an attractive investment climate, while emphasizing the government’s keenness on overcoming all obstacles facing investors and on attracting further investments in various sectors.

The Minister affirmed that the Cabinet approved a draft law for regulating services provided by the transportation network companies and it was referred to the State Council. The draft law included the protection of the current system and the engagement of new parties, explained Dr. Nasr, who referred to MIIC’s keenness on eliminating any obstacles facing Uber Egypt that contributes to providing distinguished services in the Egyptian market, which would, in turn, lead to the expansion of the Company’s work according to the law.

Accordingly, Mr. Michael commended the steps taken by the government to facilitate the Company’s work in Egypt, while expressing Uber’s desire to expand its activities in the country. He further commended the economic reform procedures taken by Egypt and its contribution to enhancing the business environment and improving the outlooks of the Egyptian economy.

He noted that the President’s recent visit to Washington positively contributed to encouraging several US companies to increase their investments in Egypt.

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