Investment Ministry: Easing business measures to encourage firms expand in Egypt
Monday، 14 January 2019 - 01:59 PM
Egypt is keen on easing measures that face investors in the country, such as LG Electronics.
Investment Minister Sahar Nasr, in a meeting with LG Egypt CEO Don Kwak on Monday 14/1/2019, said her Ministry is acting to offer support for the private sector and encourage foreign companies to double their businesses in Egypt.
Kwak said LG intends to pump an additional 15 million dollars’ worth of new investments in Egypt that will be used to expand existing production lines.
LG investments in Egypt total some 240 million dollars, Kwak said, noting that now is the right time to do business in the country.
He believes Egypt has great investment opportunities, pointing out that exports of LG Egypt reached about 200 million dollars in 2018.
LG Egypt is seeking to promote exports to new African markets, especially with Egypt chairing the African Union in 2019.