The Korea Trade-Investment Promotion Agency (KOTRA) is organizing a seminar and 1:1 business meeting with South Korean Companies in the field of electronics industry between Egypt and South Korea.
The seminar will be taking place on Wednesday, May 29, 2024, at the Four Seasons Hotel Cairo at Nile Plaza in Garden City.
The main objective of the seminar and business meeting is to discuss the possibility of enhancing the cooperation in “electronic appliances sector” with the relevant Egyptian ministries, authorities, and private sector, especially Ministry of Communication & Information Technology (MCIT) and General Authority for Investment and Free Zones (GAFI) and the private sector represented by Elaraby Group.
The seminar will showcase Egypt's investment environment and investment incentives, electronics industry trends, and most importantly the Egypt Makes Electronics (EME) presidential initiative which is launched to position the electronics industry as one of the key props for growth in the Egyptian economy.
Ambassador Kim Yonghyon of the Republic of Korea to Egypt attended the seminar and highlighted the strong partnership already established between Korea and Egypt in the electronics industry. He noted that major Korean electronics companies produce electronic products in Egypt and export them to over 50 countries worldwide. Additionally, he cited the successful operation of two joint ventures between the El Araby Group and Korean companies as examples of this robust cooperation.
Ambassador Kim stated that Korea is a global leader in the electronics industry, leading the world market in semiconductors, smartphones, displays, and batteries, as well as home appliances such as TVs and refrigerators. He emphasized that Egypt, through the implementation of the EME (Egypt Makes Electronics) initiative, is on a journey to become a regional and global hub for the electronics industry in the Middle East, Africa, and Europe. Considering these factors, he concluded that the electronics industry will be a key element of economic cooperation between Korea and Egypt.
On the following day, Thursday, May 30, 2024, the South Korean trade delegation will visit Elaraby factory in Quesna city in Monufia Governorate in order to see the manufacturing plant. The visit will encourage South Korean companies to cooperate and supply the Egyptian market with feeding industry supplies required for the electronic appliances manufacturing.
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