Minister of Finance Mohamed Maait said Egypt is keen to broaden the horizons of foreign investments in its market, noting that South Korean investments in Egypt are a successful model for foreign investments that stimulate development.
Maait made the remarks during his meeting with South Korean Ambassador in Cairo Kim Yong-Hyun on Tuesday.
The minister said Egypt has advanced, smart and green infrastructure that is capable of meeting the needs of investment activities, an improved legislative environment, tax and customs incentives, as well as new investment incentives that provide an attractive business climate for the private sector, including: the State Ownership Policy Document, the Golden License and the government’s initial public offerings (IPOs) program.
These incentives are meant to stimulate local and foreign investments and remove any obstacles that may face investors; in a way that encourages them to expand their productive activities, the minister added.
Meanwhile, the South Korean ambassador said his country is looking forward to bolstering its relations with Egypt in all fields, hailing Egypt as a strategic partner that now has an integrated infrastructure of facilities and services.
He added that the remarkable increase in South Korean investments in Egypt confirms the strength of bilateral relations.
