Egypt signed a partnership agreement with Saudi Arabia's Panda Retail Company to expand its retail footprint and bolster food security, as the government pushes to attract foreign investment and stabilise prices amid ongoing inflationary pressures. The deal, announced Wednesday by Egypt's Ministry of Supply and Internal Trade, was signed between the General Committee for Foreign Aid and Panda Egypt — the local arm of one of the Gulf region's largest retail chains. The partnership aims to improve product availability, reduce food supply chain inefficiencies, and ensure competitive pricing across Egypt's retail market. It also includes cooperation on logistics, warehousing, and supply operations. "Strengthening ties with regional leaders like Panda is part of our strategy to enhance food security and protect consumers," Supply Minister Sherif Farouk said at the signing. Panda Retail, which entered the Egyptian market in 2015, currently operates six branches and has invested more than 500 million Egyptian pounds in store upgrades, including two recently renovated outlets in Cairo. CEO Bandar Hamooh said Egypt remains a priority market for the company's long-term expansion plans, citing the country's "vital role" in regional food logistics. The partnership reflects Cairo's broader push to involve the private sector in modernising its retail infrastructure and safeguarding access to essential goods amid economic reforms and currency pressures. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
