The Minister of Investment and International Cooperation: We are keen on legislative reforms that ensure the injection of new investments by the private sector.
Abdellatif Waked: We intend to expand our activity; the Egyptian market is one of the fastest-growing markets in the world.
The Minister of Investment and International Cooperation Dr. Sahar Nasr met with Mr. Abdellatif Waked, the General Manager of Uber-Egypt, Mr. Ahmed Aly, Head of Public Policy in Uber-North Africa, and Ms. Rana Kortam, Head of Public Policy in Uber-Egypt. This came on the sidelines of the World Youth Forum in Sharm El- Sheikh, held under the patronage of President Abdel Fattah Al Sisi.
Both sides discussed the expansion of the company's activity in the governorates after the inauguration of the new Uber’s Center of Excellence (CoE) in Cairo, the first in the Middle East, by an investment cost of USD 20 million, providing more than 1000 direct job opportunities for the Egyptian youth by 2020.
Dr. Nasr pointed out that the government is keen on having business environment and legislative reforms that ensure the injection of new investments by the private sector, creating job opportunities for youth, providing better service to citizens and supporting entrepreneurs' projects in Egypt. She indicated that the draft Law regulating the services of passenger transport companies via private cars using IT will provide facilitated legal framework for Uber and other companies working in this field.
Further, the Minister mentioned that the World Youth Forum is an opportunity to support youth initiatives in various fields, especially technology.
On their part, Mr. Abdellatif Waked stated that Uber intends to expand its activity in Egypt after the inauguration of the CoE, which is considered Uber's first investment of its kind in the Middle East. He added that the company intends to make Cairo as a center for supporting its customers in the Middle East and North Africa, pointing out that the Egyptian market is one of the fastest-growing markets in which Uber works worldwide.
Moreover, Mr. Waked lauded the World Youth Forum and the keenness of Egypt's political leadership on supporting the ideas of youth and formulating a common vision towards the future with the world's youth.
He added that Uber has already enabled thousands of Egyptians to increase their income and improve their standard of living through the company's investments in the Middle East during the last three years.