The Minister affirmed the strong bilateral ties between Egypt and South Korea and the growing economic partnership uniting the two nations. He highlighted the significant efforts Egypt is making to boost exports and enhance the competitiveness of Egyptian products in foreign markets.
El-Khatib stressed the Ministry's commitment to providing full
support to companies that strengthen local industry and add value to the
Egyptian product. He pointed out Egypt's interest in attracting export-oriented
investments and its work to overcome any obstacles facing manufacturing and
exporting companies.
The Minister encouraged further Korean investments in high-tech
industrial sectors, stating that the Egyptian market possesses strong
fundamentals that allow for the establishment of regional production hubs
serving the Middle East, Africa, and Europe. He mentioned that the Ministry is
developing new incentives for export projects and is working to enhance the
link between global companies and Egyptian factories to increase the local
component and boost employment rates.
El-Khatib emphasized the government’s commitment to localizing
the electronics industry, which reinforces Egypt's position as a regional
center for manufacturing and exporting.
For his part, Jaeyeol Hwang, Chairman and CEO of LG Egypt,
confirmed that the company plans to expand its investments in Egypt by
establishing a new factory alongside expanding existing production lines. This
is aimed at strengthening its export capabilities and increasing production
volume destined for European markets.
Hwang described Egypt as a strategic location for industrial expansion, stating that the supportive investment environment gives LG great confidence to move forward with new projects in the coming period.