Egypt, Korea discuses cooperation in Small, Medium Enterprises in IDSC’s workshop

CAIRO – 19 June 2019: Cabinet's Information and Decision Support Center (IDSC) organized on Wednesday a workshop titled “Egypt and Korea: Towards Enhancing Cooperation in Small, Medium and Micro Enterprises”, where officials from Egypt and Korea discussed the economic cooperation between both sides.

IDSC head Ziad Abdel Tawab said that Egypt is keen on supporting the sector of Small, Medium and Micro Enterprises, providing it with all needed resources.

He affirmed that the government sees that sector as one of the main pillars to achieve inclusive growth and sustainable development, as it counters unemployment and provides a huge amount of jobs.

He noted that the government has been working on youth and women empowerment during the past period through applying national strategies adopted by the government. He assured that the Small, Medium and Micro Enterprises sector witnesses a huge development in Egypt.

Deputy Foreign Minister for Economic Affairs Yun Kang-hyeon said in his speech in the workshop that he regrets not visiting Egypt before. He added that he read a lot on the Egyptian economic developments and reforms and that he was impressed.

He predicted that Egypt will achieve economic growth of up to 6.5 percent during this fiscal year, noting that foreign investors trust the Egyptian economy.

He also stressed that Korea is aware of the difficulties Egypt has recently been going through to achieve these economic developments. He expected even more achievements for the country in the economic sector.

Jae Wook Jung, head of the Africa and the Middle East Team at Korea Institute for International Economic Policy (KIEP), said that the Egyptian-Korean economic relations witnessed noticed improvements in the past period, noting that both countries intend to expand mutual cooperation, and share knowledge and experiences.