The meeting focused on electronics, electrical appliances, textiles, oil and gas, nuclear energy, iron and steel, petrochemical sectors, manufacturing subway cars, and importing Egyptian agricultural products
The Egyptian Prime Minister, Mostafa Madbouly, met with representatives from the 15 most prominent South Korean companies operating in various sectors within the Egyptian market to expand South Korean investments in Egypt.
The meeting focused on electronics, electrical appliances, textiles, oil and gas, nuclear energy, iron and steel, petrochemical sectors, manufacturing subway cars, and importing Egyptian agricultural products.
The Minister of International Cooperation, Rania Al-Mashat, and the Minister of Trade and Industry, Ahmed Samir, were present at the meeting, along with Minister Plenipotentiary Byung Soon Choi, the Acting South Korean Ambassador to Egypt, Ambassador Abu Bakr Hafni, Advisor to the Minister of International Cooperation, Director of the Asia Sector, and representatives from South Korean development agencies in Egypt.
During the meeting, Madbouly expressed his appreciation for the vital role played by South Korean companies in the Egyptian market. He highlighted the existing strategic partnership between Egypt and South Korea, which has resulted in numerous successful industrial and transportation projects.
The Prime Minister emphasized the Egyptian government's commitment to expanding South Korean investments across various sectors and encouraged the companies to present their plans for future collaboration. He assured them of the government's readiness to address any challenges they may encounter, in coordination with relevant ministries and stakeholders.
Prime Minister Madbouly also outlined the efforts undertaken by the Egyptian government to stimulate the economy and create an attractive environment for foreign investments. He mentioned the implementation of incentive packages aimed at attracting investments, particularly in industrial projects, which have been a primary focus for the government in recent years.
Acknowledging the difficulties both local and foreign companies face, including South Korean firms, the Prime Minister credited the government's economic reform program and increased financial resources for the private sector to overcome those challenges
Prime Minister Madbouly expressed his commitment to further strengthening cooperation with South Korean companies, recognizing their extensive experience across diverse sectors.
The Acting South Korean Ambassador to Egypt was grateful to Prime Minister Madbouly for his continuous support of South Korean companies in Egypt. The Ambassador emphasized the desire of these companies to achieve success stories in the Egyptian market, which would encourage more Korean companies to invest in Egypt. He stressed the importance of mutual visits by companies and businessmen from both countries to explore investment and trade opportunities.
