On Monday, Korean Ambassador Hong Jin-Wook met Eng. YehiaZaki, Chairman of the Suez Canal Economic Zone (SCZone) to discuss investment opportunities for Korean Companies in the Sweize canaille region.
During the meeting, the Korean Ambassador was briefed on the current developments in the SCZone, and exchanged views with Eng. Zaki on the possible means of expanding cooperation and the Korean companies’ investments in the SCZone.
In this regard, Zaki presented the investment opportunities in the SCZone, as well as the incentives offered to investors, especially the achievements realized in the SCZone infrastructure level and facilities; expressing hope that Korean companies take this advantage and advance their presence in the Egyptian market.
Ambassador Hong pointed to the visit of Hyundai Rotem CEO to Egypt last April and the meeting with H.E. President Abdel Fattah Al-Sisi.
He added that in line with the Egyptian government’s endeavors to increase local manufacturing, Hyundai Rotem had signed an MOU with the National Railway Industry Company (NRIC) on locally manufacturing of metro cars; considering establishing a factory in East Port Said within the boundaries of the SCZone.
Ambassador Hong requested SCZone’s continuous support for Korean companies operating in Egypt which are around 170 Korean companies, including Hyundai Rotem. Ambassador pointed that Korea has designated Egypt as an ODA priority country for 5 years which would allow broader cooperation between the two countries.
Chairman Zaki hailed the Korean company's active presence in the Egyptian market; expressing willingness to offer support for the Korean Companies and looking forward to the establishment of the Korean industrial zone in Egypt.
In the same context, Ambassador and Chairman agreed to continue regular consultations to open up new prospects for bilateral cooperation and avail more opportunities for Korean companies in the SCZone.
Follow the latest news on Google News
