Egypt’s Prime Minister Mostafa Madbouly recently met with representatives from the 15 most prominent companies from South Korea operating in various sectors within Egypt in a bid to bolster economic ties, expand investment, and foster growth in the country. Madbouly highlighted several sectors that Egpyt seeks to boost investment in, including electronics, oil and gas, nuclear energy, iron and steel, manufacturing subway cars, and agriculture.
Promoting collaboration prospects
During the meeting, Madbouly highlighted the multiple partnerships that Egypt has with South Korea which resulted in several successful industrial and transportation projects. In addition, he reiterated Egypt’s commitment to expanding South Korean investments across various sectors and encouraged companies to present their plans for collaboration. Madbouly also assured South Korea’s investors of the government’s readiness to address any challenges they may encounter, reaffirming Egypt’s commitment to improving market conditions and attracting foreign investment.
Read: Economy Middle East Summit 2024 highlights economic growth prospects in the MENA region
Incentive packages to attract investment
During the meeting, the prime minister also revealed that Egypt will implement incentive packages to attract investments in the industrial sector, which the government has been focusing on recently. Noting the challenges both local and foreign companies face, Madbouly reaffirmed Egypt’s commitment to its economic reform program and financial resources for the private sector.
Furthermore, Madbouly expressed Egypt’s commitment to further strengthening cooperation with South Korea, highlighting its companies’ extensive experience across diverse sectors
For more news on economy, click here.
