The statement was issued following a meeting between GAFI Chief Hossam Heiba and Samsung Egypt president Jun Su Jung on Sunday.

Samsung investments in the country are worth $500 million and provide 5,000 direct and indirect job opportunities, the statement added.

In 2021, Samsung signed an agreement to establish a factory in Beni Suef governorate worth $30 million that will produce tablets for educational use. The new tablets will replace older models, also manufactured by Samsung, in Egyptian schools.

Heiba and Jun Su Jung also discussed the company's investment plans in Egypt including acquiring the golden license which gives incentives and eases investment procedures to its holders.

Samsung has benefited from Egypt's trade and investment agreements with several countries and blocs to expand its sales, Heiba said.