Cairo, Seoul discuss expanding investments in Egypt
Both sides affirmed that Egypt and South Korea enjoy close bilateral relations rooted in decades of cooperation across multiple fields. They stressed the importance of intensifying joint efforts to expand trade and investment partnerships.
El-Khatib highlighted the government's commitment to attracting leading South Korean companies to the Egyptian market, pointing to the country's advanced infrastructure development and preferential access to international markets through its wide network of free trade agreements. He added that Egypt offers a competitive investment environment, including its strategic geographic location, availability of land and industrial zones, skilled engineers and trained labour, and competitive wage levels.
The minister also outlined ongoing government reforms to improve the investment climate, including the launch of an integrated digital platform that links government entities to simplify procedures and provide digital services to investors. He explained that the platform will reduce costs and processing time while enhancing transparency and efficiency.
El-Khatib further noted that the government has succeeded in reducing customs clearance times for goods, with a target of just two days, helping to accelerate the flow of trade.
For his part, Ambassador Kim praised Egypt's efforts to stimulate exports and attract investment, citing the successes of major Korean companies such as Samsung and LG in the local market. He also extended an official invitation to El-Khatib to visit South Korea, with the aim of exchanging expertise, drawing on South Korea's industrial and investment experience, and advancing bilateral economic cooperation to new levels.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
10 minutes ago
- Zawya
Iraq aims to attract $250bln in new investments by 2027
Iraq is aiming to attract $250 billion worth of investments over the next two years building on recent inflows of Arab and foreign capital, the spokesperson of its investment promotion agency said. National Investment Commission (NIC) spokesperson Hanan Jassim told the Iraqi News Agency (INA) that government policies along with legislative and regulatory reforms have enabled Iraq to secure more than $100 billion in Arab and foreign investments across different economic sectors over the past two years. These investments have had a direct impact on driving sustainable development and diversifying the country's sources of income, she said, underlining inflows into industry, infrastructure, housing, energy, education, and health. These projects, she said, have created jobs, expanded GDP, and reduced dependence on oil as Iraq's main source of revenue. Jassim said government measures, NIC-led initiatives such as the one-stop-shop system, Iraq's accession to international investment protection agreements, and the launch of a national investment map with more than 100 strategic opportunities have driven progress in the country. (Writing by Majda Muhsen; Editing by Anoop Menon) (
Zawya
36 minutes ago
- Zawya
Egypt, India discuss expanding economic, investment cooperation
Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib met with Suresh Reddy, the Indian Ambassador to Cairo, to discuss ways to strengthen cooperation in trade and investment, as per a statement. The meeting also addressed opportunities to support future partnerships and reviewed issues of mutual interest. El-Khatib emphasized the depth of bilateral relations between Egypt and India, underscoring the importance of translating their longstanding cooperation into practical projects that serve both economies. He highlighted prospects for increasing Indian investments in the Egyptian market, enhancing trade exchanges, and opening new channels for cooperation between business communities in both countries. The minister outlined Egypt's investment potential across production and service sectors, citing the availability of skilled labor, engineering expertise, and competitive wages. He also pointed to Egypt's wide market access through numerous free and preferential trade agreements with major regional and global blocs. For his part, Reddy reaffirmed India's commitment to strengthening ties with Egypt, noting the historic relations between the two countries. He stressed the significance of Egypt as a regional industrial and export hub and as a key gateway to African markets. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
2 hours ago
- Zawya
Saudi trading in US stocks hits record $51.54bln in Q2 2025
RIYADH — Saudi investors' trading activity in U.S. equities surged to an all-time high in the second quarter of 2025, with transactions through licensed financial institutions reaching SR193.4 billion ($51.6 billion), according to data released by the Capital Market Authority (CMA). The figure represents a 230 percent increase from the same period in 2024, when trading totaled SR58.6 billion. On a quarterly basis, it rose 18 percent, or SR29 billion, compared to SR164.3 billion in the first quarter of this year. The CMA noted that while the report captures trading values by licensed Saudi brokers in global markets, it does not include data on the number of Saudi-owned portfolios abroad, nor trades executed directly through foreign intermediaries. The data showed that trading in U.S. markets accounted for 98.6 percent of the SR196.2 billion in total Saudi trading across international markets during the quarter. By comparison, Saudi trading in Gulf equities reached SR2.2 billion, an 88 percent year-on-year increase. Other markets saw limited activity, with Arab markets accounting for SR289 million, European SR157 million, Asian SR78 million, and other markets SR95 million. The CMA's historical data indicates a consistent upward trajectory in Saudi interest in U.S. equities since 2022, with a sharp acceleration beginning in 2024. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
