Amazon to triple warehouse space in Egypt this year. PLUS: Expat plans to invest USD 400 mn in local healthcare firms
Amazon will triple the storage capacity of its fulfillment centers nationwide to nearly 100k cubic meters in 2023, the e-commerce giant said in a statement (pdf) yesterday. The company is also investing to beef up its delivery network and partner with more delivery firms, the release reads. The Amazon network here currently includes its flagship fulfillment center in the Tenth of Ramadan and 22 delivery stations across key cities.
ICYMI- Amazon Egypt General Manager Omar Elsahy told us why he thinks tech and the digitization of local manufacturing and SMEs growth is key to boosting FDI and exports in our recent CEO poll.
Egyptian expat to invest up to USD 400 mn in local healthcare firms: Rick Menassa (LinkedIn) — the CEO of Toronto-based firms Health Espresso & iCare Home Health — plans to invest USD 300-400 mn in the local health sector along with undisclosed investors from Saudi Arabia, Manessa told the Emigration Ministry in an interview (watch, runtime: 5:03). Further information about the potential investment wasn’t disclosed.
Attracting more FDI from expats: The interview is part of a video campaign launched by the ministry to try and encourage Egyptians abroad to invest in Egypt dubbed “Egyptian investors abroad answer: Why do we invest in Egypt?” according to a ministry statement. The government has launched several initiatives in recent months meant to drum up USDs from Egyptians abroad amid the ongoing FX shortage, including its expat car import scheme.