The Korean Embassy in Egypt hosted a seminar called the Korean Business Support Council on October 12. The purpose of the seminar was to provide support to Korean companies operating in Egypt and discuss opportunities for expanding economic cooperation between Korea and Egypt.
The seminar was attended by key figures from the Egyptian government and Ministry of Finance officials, including the Korean Ambassador in Cairo, Kim Yonghyon, CEO of Suez Canal Special Economic Zone, Ahmed Saad, Director of the Industrial Modernization Center, Doaa Selima, and Advisor to the Head of the Industrial Development Authority, Alaa Salah. More than 20 Korean companies from various industries such as electronics, automobile parts, and petrochemicals, as well as KOTRA and KOICA, were also present.
During the seminar, representatives from SCzone, IDA, and IMC gave presentations on the Egyptian government’s investment attraction policies and Korean company support policies. They also engaged in a Q&A session with the Korean companies.
The participating companies showed active interest in the Egyptian government’s business support and investment policies. They requested active cooperation and support from the Egyptian authorities to help Korean companies expand their business activities and investments in Egypt.
The Embassy received a presentation from Egyptian economic expert, Dalia Abdallah, on Egypt’s business prospects. KOTRA presented business cooperation plans between Korea and Egypt. Additionally, KT-net (Korea Trade Network) introduced the Egyptian e-procurement system, which is being implemented as an ODA project by KOICA.
Ambassador Kim highlighted the importance of Egypt as Korea’s economic cooperation partner in the Middle East and Africa. He mentioned that Korea’s investment in Egypt exceeded $800m and trade between the two countries reached $3.2bn last year.
