Egypt on right track of economic reform: KOICA diretor

CAIRO - 26 July 2017: The Korean International Cooperation Agency (KOICA) Regional Director Lee Hyang Woo said the economic measures that have recently been adopted by the Egyptian government asserted that its economic reform program is on the right track.

In statements to MENA, Lee said his country has experienced tough economic conditions similar to Egypt in the 1970s and managed to emerge out of its crisis after embracing a package of strict economic measures.

He went on to say that Egypt has huge potentials at all levels, voicing confidence that Cairo would overcome such tough phase.

KOICA is financing a project to establish an Egyptian-Korean technological college in Assiut at a sum of dlrs 2 million. The project will be launched in late 2017 and the first academic year will be in 2018, added the official.

He also said KOICA is negotiating with some Korean companies operating in Egypt to provide jobs for graduates of the technological college who will mainly be trained at the hands of Korean experts.

KOICA is offering Egypt an annual grant of dlrs 2 million which is mainly channeled for supporting the fields of technical education, industry, energy and governance.