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South Korea seeks to increase volume of investments in Egypt: South Korean PM

MENA , Tuesday 26 Feb 2019
south korea
Egypt's investment and int'l cooperation minister Sahar Nasr, SCA Chairman Mohab Mamish, and finance minister Mohamed Maait during a picture with Korea-Egypt Business Forum (Photo: Ministry of International Cooperation official Facebook page)
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South Korean Prime Minister Lee Nak-yeon expressed his country's appreciation for having distinguished relations with Egypt in view of its vital role in maintaining stability and peace in the Middle East region.

The South Korean premier's remarks were made during his meeting on Tuesday with Egypt's Minister of International Cooperation and Investment Sahar Nasr, Minister of Finance Mohamed Maait and head of the Suez Canal Authority Mohamed Mamish, currently on a business visit to Seoul.

A statement released by the investment ministry said that Nasr asserted that Egypt is seeking to set up partnership relations with South Korea as it is considered a successful example in the economic field, adding that Cairo is looking forward to enhancing its relations with Seoul in all domains, especially in light of the mega development projects which are currently under construction in Egypt.

Meanwhile, Finance Minister Mohamed Maait reviewed the economic reform efforts introduced by the Egyptian government, the recent economic indices as well as growth rates.

Mamish also briefed the Korean side on the investment opportunities in the Exclusive Economic Zone in Suez Canal which includes six harbours, adding that currently 161 companies are operating in the zone.

The focus of business in EEZ in the coming phase is to build three ship arsenals.

The Korean premier, said his country is willing to join in partnership with Egypt in the ship building in the EEZ of the Suez Canal, asserting that Korean companies could benefit from such projects.

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