Amazon is currently negotiating with the Egyptian Internal Trade Development Authority to obtain plots of land to establish warehouses nationwide, according to the agency's head, Ibrahim El-Ashmawy
According to Arabiya Net, he indicated that the negotiations are taking place in the first phase on 10 governorates in Lower and Upper Egypt and the new cities. He explained that the company is working on the application of the system of formation and coding of goods, which is expected to cause a significant growth in e-commerce by entering and expanding the company in the local market.
The head of the Internal Trade Development Authority announced the establishment of four strategic warehouses, on an area of 10 acres, with initial investments estimated at 10 billion pounds.
Ashmawy added that the device received offers from 9 companies, which are considered the largest in the Arab region, and each company has a foreign operator to benefit from their expertise in this field.
He explained that 9 new opportunities will be presented successively in distinct places, pointing out that the device is in partnership with the private sector in 11 governorates, and aims to be present in 19 governorates in order to increase Port ratios.
On the other hand, Ashmawy explained that negotiations are now underway with two commercial chains to localize new investments in the supermarket field.
With regard to the start of commodity trading on the commodity exchange, he said that during the last wheat season, a financial settlement process with wheat suppliers was carried out at 450 points, and those companies were encoded.
Ashmawi pointed out that a twinning contract will be concluded with the Belarusian Commodity Exchange in the coming period to benefit from its expertise, noting that the volume of its transactions amounts to $2.3 billion.
