Major UK retailer Marks & Spencer have plans to open a 3 new stores in Egypt as part of their expansion into the middle east. Despite recent political unrest & the downfall of President Mubarak, M&S is pressing ahead with the scheduled opening of it’s Cairo store in October 2011.

This shows a growing new confidence in Egypt – the chairman said that they anticipated trading in Egypt for the medium to long term & were in fact speeding up their international expansion to offset competition from the qucikly growing domestic market.

The fact that a company as large & well known as M&S is opening stores in Egypt is very positive for the economy & can only boost foreign investment & tourism. The chief executive said he planned to take M&S from a UK retailer to International status by 2015.

Source: Arabian Business