Egyptian President Abdel Fattah El-Sisi attended a roundtable discussion with 23 major South Korean companies in Seoul as part of his state visit to South Korea. The meeting was a platform for the President to engage with business leaders and explore opportunities for enhancing economic and investment cooperation between Egypt and South Korea.
During the meeting, President El-Sisi highlighted the strong economic and investment partnership between Egypt and South Korea, expressing his desire to elevate this relationship to more ambitious and broader levels. He praised the significant role played by South Korean companies as reliable partners in supporting Egypt's comprehensive development efforts.
The President emphasized his administration's commitment to enhancing cooperation with South Korea, particularly in areas such as economy, investment, manufacturing, and technology. He outlined the steps taken by Egypt to reform its economy, improve the investment climate, and develop a business-friendly environment through a comprehensive program of structural and economic reforms.
President El-Sisi discussed the incentives and investment facilitation packages offered by Egypt, including streamlined procedures through a one-stop shop, competitive land prices, and modern infrastructure. He also highlighted Egypt's commitment to providing full guarantees for investment protection and profit repatriation.
The President invited South Korean companies to consider expanding their investments in Egypt, particularly in strategic sectors such as oil and gas, mining, renewable energy, and clean energy projects. He also encouraged them to explore opportunities for cooperation in areas like shipbuilding, automotive manufacturing, electronics, and petrochemicals.
The roundtable discussion was followed by an interactive session with the South Korean business community, during which participants discussed opportunities for strategic and sustainable partnerships between Egypt and South Korea. The participants praised Egypt's efforts to improve the business climate and expressed their interest in investing in the country.
President El-Sisi reiterated Egypt's commitment to providing all necessary facilities for investors, particularly South Korean investors, and invited them to visit Egypt to explore investment opportunities. He described investing in Egypt as a promising opportunity due to the country's stability and strategic location.
Key points
- President El-Sisi invites South Korean companies to consider investing in Egypt's strategic sectors.
- Egypt and South Korea explore opportunities for enhancing economic and investment cooperation.
- President El-Sisi highlights Egypt's efforts to improve the business climate and provide incentives for investors.
