Minister of Investment and International Cooperation Sahar Nasr inaugurated on Tuesday the new service center of the tech-enabled ride-sharing service Uber, Invest-Gate reports.

The total investment of the service center is estimated at USD 20 mn, the ministry said in a statement.

Nasr, who took a tour of the center, noted that the ministry is keen on creating the best business climate to help increase foreign investment and offer more job opportunities for youth.

She added that a new draft law, which will regulate tech-enabled ride-sharing companies for private cars, will offer a friendly legislative framework.

The service center is the first of its kind in the MENA region and the third following two similar projects in Europe, the statement added.

“The company is planning to invest over USD 20 mn in Egypt during the coming five years,” said Pierre-Dimitri, Uber’s vice president and regional general manager for Europe, Middle East and Africa (EMEA) during the opening ceremony.  

Uber is currently operating in Cairo, Alexandria and Mansoura, in addition to providing services in the North Coast resort area and the Red Sea’s El-Gouna during the summer months.