Cairo, Seoul Discuss Expanding Investments In Egypt

2025-08-20 02:03:38

(MENAFN- Daily News Egypt) Hassan El-Khatib, Minister of Investment and Foreign Trade, met with South Korea's Ambassador to Cairo, Kim Yong-hyun, and his accompanying delegation to discuss ways of strengthening economic cooperation and boosting South Korean investments in the Egyptian market. The talks also covered a number of issues of mutual interest.

Both sides affirmed that Egypt and South Korea enjoy close bilateral relations rooted in decades of cooperation across multiple fields. They stressed the importance of intensifying joint efforts to expand trade and investment partnerships.

El-Khatib highlighted the government's commitment to attracting leading South Korean companies to the Egyptian market, pointing to the country's advanced infrastructure development and preferential access to international markets through its wide network of free trade agreements. He added that Egypt offers a competitive investment environment, including its strategic geographic location, availability of land and industrial zones, skilled engineers and trained labour, and competitive wage levels.

The minister also outlined ongoing government reforms to improve the investment climate, including the launch of an integrated digital platform that links government entities to simplify procedures and provide digital services to investors. He explained that the platform will reduce costs and processing time while enhancing transparency and efficiency.

El-Khatib further noted that the government has succeeded in reducing customs clearance times for goods, with a target of just two days, helping to accelerate the flow of trade.

For his part, Ambassador Kim praised Egypt's efforts to stimulate exports and attract investment, citing the successes of major Korean companies such as Samsung and LG in the local market. He also extended an official invitation to El-Khatib to visit South Korea, with the aim of exchanging expertise, drawing on South Korea's industrial and investment experience, and advancing bilateral economic cooperation to new levels.

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