Deputy Prime Minister for Industrial Affairs and Minister of Transport and Industry Kamel el-Wazir met on Tuesday South Korean Ambassador to Egypt Kim Yonghyon.
The two sides discussed means to strengthen co-operation between Cairo and Seoul in the fields of transportation and industrial development.
Wazir said that co-operation between South Korea and Egypt in the transportation sector is highly significant, as it not only forms the foundation for Egypt’s economic development but also directly improves the quality of life for Egyptian citizens. He highly appreciated South Korean companies’ contributions to job creation and exports through their activities across Egypt, while expressing hope for expanded opportunities for co-operation and investment across all industrial sectors.
Ambassador Kim emphasised that South Korea and Egypt have been developing close economic co-operation in various sectors, including manufacturing, infrastructure, energy, defence industry, higher education, and digital government. He particularly highlighted the notable achievements in the transportation sector, such as metro, railway, and tram projects.
The South Korean envoy commended the significant progress made in modernising Egypt’s transportation infrastructure over the past five years under Minister Wazir’s leadership, noting that South Korean companies have also been able to contribute to this advancement.
He said that this co-operation would support Egypt’s ambitions to become a regional hub for industry and manufacturing.
Egypt is a key partner country for Korea’s Official Development Assistance (ODA), with ongoing projects in various fields such as transportation and green infrastructure for the Suez Canal, the envoy said. He proposed developing new projects in various fields to further expand this development co-operation. He noted that during the Korea-Africa Summit in June, the Economic Development Co-operation Fund (EDCF) support limit for Egypt increased from $1 billion to $3 billion, which can make a substantial contribution to Egypt’s infrastructure expansion and industrial development.
