Ahmed Samir, Minister of Trade and Industry held a meeting with Jérôme Baudy - President Europe & Middle East - Christian Dior Couture , where the meeting dealt with the company's plans to be present in the Egyptian market during the next stage.
Pierre de Maigret, General Manager of Dior Middle East also participated in the meeting.
The minister said that Dior, which specializes in fashion products such as clothing and perfumes, seeks during the last quarter of 2024 to start its activity in the Egyptian market by establishing a number of retail outlets for the company's products, indicating the ministry's keenness to provide aspects of support to the company and remove any obstacles it may face to invest in the Egyptian market.
Samir explained that all economies of the world suffer from the economic consequences of the successive global crises related to the coronavirus pandemic and the Russian-Ukrainian crisis. However, Egypt has succeeded, despite the global crises, to achieve a tangible improvement in the economic conditions, which is confirmed by the expectations issued by international bodies that Egypt will achieve a growth rate of 5.8% during the year 2022.
The minister indicated that there is a committee headed by Mustafa Madbouly, Prime Minister, with the membership of ministers and officials, to facilitate customs release procedures and reduce its time, indicating that the ministry directed the General Authority for Export and Import Control to quickly complete the sampling procedures, which contributes to reducing the time and cost borne by the investor.
Samir called on the company to invest in Egypt by manufacturing some of its products in the Egyptian market to create added value, transfer experience and knowledge, and take advantage of the comparative advantages offered by investment in the Egyptian market now, which include skilled labor, availability of energy sources and low prices compared to many countries now, whether in Europe or Asia, which prompted many European companies to transfer their production lines to alternative markets, including the Egyptian market.
On his part, Baudy confirmed that the company has a long history in the manufacture of fashion, ready-made clothes and perfumes, as the company's products depend primarily on designs and creativity, indicating that the company has been stationed since its establishment in France and Italy and it exports its products to many countries and has sales showrooms in most countries of the world.
Baudy added that the company is following up Egypt's efforts to achieve economic stability, stressing the importance of facilitating the import process and speeding up the completion and clearance of procedures at ports and customs.
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