MAKRO has launched its second wholesale store, this one in the governorate of Qalioubiya, Sherine Nasr reports The store, over 10,000 square metres, has over 20,000 food and non-food products under one roof. It means to introduce its services exclusively to a diverse customer base of traders, hospitality professionals and business companies. "Greater attention has been given to developing internal trade in Egypt. The opening of Makro is a good example of how the relationship between the wholesaler and retailer is regulated for the best interest of the end consumer," said Prime Minister Ahmed Nazif upon the opening of Makro. Rachid Mohamed Rachid, minister of trade and industry, said the retail market in Egypt was one of the largest in the region and the potential for growth was "phenomenal. Investors are recognising this," adding the retail business was the second in growth following processing industries. "The sector is picking up again after a period of stagnation following the global economic crisis and is attracting large local as well as foreign investments," said Rachid. Makro is opening seven wholesale stores in the governorates within the next two years. "After introducing the hyper markets, wholesale stores are now operational and soon discount stores will open in Egypt. The advent of discount stores will start competition among traders and the consumer will be the winner," said Rachid. To upgrade internal trade in Egypt, the government is offering more areas for development in the governorates including Luxor, Port Said, Gharbiya and Daqahliya. The districts are supplied with full utilities and is given under concession for 50 years. "Moreover, the private sector will soon be invited to establish logistic centres which are believed to be a basic component of modern internal trade system. These will include facilities for packaging, storage and transport of commodities," said Rachid who added that plans within the next six years aim at encouraging the sector to grow by 12 per cent compared to the current six per cent so that it can create some 2.9 million new jobs instead of the current 1.9 million jobs.
