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Egypt Seeks to Attract More South Korean Investments, Says Finance Minister

Egypt is eager to expand the scope of foreign investments in the country, especially from South Korea, which is a strategic partner and a successful model for development-oriented investment, said Mohamed Maait, Minister of Finance. He met with Kim Yong-hyun, South Korean Ambassador to Cairo, on Tuesday to discuss ways to enhance bilateral cooperation in various fields.

Maait highlighted the advantages that Egypt offers to investors, such as a modern, smart, and green infrastructure, a legislative environment with tax and customs incentives, and new investment incentives that create a favorable business climate for the private sector. He also mentioned the state ownership policy document, the golden license, and the government offering program, which aim to stimulate local and foreign investments and overcome any challenges they may face.

Maait said that Egypt welcomes the transfer of global expertise and the advancement of the national industry in different sectors, in line with the state’s efforts to achieve sustainable development.

Kim praised Egypt’s progress in building an integrated infrastructure of facilities and services that qualifies it for attracting more foreign investments. He expressed his country’s interest in developing and strengthening its relations with Egypt, as well as expanding its investments in Egypt in the coming period. He noted that the remarkable growth of Korean investments in Egypt reflects the strength of the ties between the two countries.

The meeting was attended by Hossam Hussein, Advisor to the Minister of Finance for External Relations, and Nisreen Lashin, Head of the Investor Support Unit.

Source: Zawya