Ashraf AboArafe
Egypt has witnessed multiple economic challenges since 2020 until now, as a result of the difficult international conditions and global austerity measures, and it is currently seeking to overcome these challenges. Egypt is making active and continuous efforts to attract foreign investments and turn Egypt into an attractive destination for investments.
Thanks to the efforts of the Egyptian government, many Korean companies have invested in the Egyptian market and expanded their presence in it. Currently, Korean companies are conducting many economic cooperative projects with the Egyptian side, including the contract for the joint production of the K-9 cannon, the establishment of the Dabaa nuclear power plant to generate electricity, and the contract for the production of trains of the second and third lines. Cairo metro, etc.
In the background of expanding investment and strengthening economic cooperation between the two countries, lies the close friendship and continuous cooperation between His Excellency the Korean Ambassador, Mr. Hong Jin Wook, and His Excellency the Minister of Finance, Dr. Mohamed Moait. The finance minister is also highly regarded for his significant contributions to promoting economic cooperation between the two countries, which has earned him the title of “problem solver” among Koreans.
For his part, Ambassador Hong met with His Excellency Minister Dr. Maait on Sunday, May 21, and this meeting came on the occasion of the end of his mission as Korean ambassador to Egypt for a period of 3 years. During the meeting, the Ambassador expressed his gratitude for the efforts made by His Excellency the Minister to solve the problems faced by Korean companies and to advance the economic relationship between the two countries.
In this regard, His Excellency the Minister said that the Korean-Egyptian relations had jumped to the highest levels that the two countries had not witnessed before, expressing his thanks for the passion and dedication of His Excellency the Ambassador. He added that he will not tire in his work to attract more Korean investments and solve the problems of Korean companies in Egypt, in addition to active communication with the new Korean ambassador in order to advance the bilateral relationship in the future.
