LG Electronics plans EGP 2 billion investments in Egypt

CAIRO – 10 April 2017: South Korea’s LG Electronics plans to invest EGP 2 billion in Egypt, the Company’s Executive Director Don Kwak said during a meeting with Minister of Investment and International Cooperation Sahar Nasr at the ministry's headquarters on Monday.

During the meeting, Nasr stressed that the Investment Ministry is keen to eliminate all obstacles investors face and provide an incentivizing environment for investment.

Additionally, Nasr emphasized the ministry’s commitment to providing facilities to spur the private sector and encourage foreign investment.

Kwak added that the company has purchased a 207-square-meter plot of land to construct a new project in 10th of Ramadan City.

He also announced the company is working to establish assembly lines for refrigerators and air-conditioners, with plans to fully manufacture in Egypt.