GAFI head confers with S. Korean amb. on increasing investments in Egypt

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Mon, 26 Oct 2020 - 12:23 GMT

 FILE - General Authority for Investment and Free Zones (GAFI)

FILE - General Authority for Investment and Free Zones (GAFI)

CAIRO - 26 October 2020: The General Authority for Investment and Free Zones (GAFI) Chief Mohamed Abdel Wahab met Monday with South Korean Ambassador in Cairo Hong Jin-wook to discuss ways to attract investments to Egypt.


The meeting focused on success stories of South Korean companies operating in Egypt, especially in the fields of electronics and home appliances.


South Korean Samsung and L. G. have announced an increase in business in Egypt, with new products tapping the market. 


Abdel Wahab and Hong agreed on forming a joint group of action to convene monthly and follow up new South Korean investments in Egypt. 


Egypt is looking forward to boosting investments with South Korea, Abdel Wahab added. 


Hong hailed as strong relations between Seoul and Cairo. He was pleased with GAFI support for South Korean investments and its efforts to ease obstacles facing companies operating in the Arab country.

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