The Egyptian government will carry out with structural reforms to further prop up the local economy and boost engagement of private sector in development process, Minister of Finance Mohamed Maeet said Sunday.
These are part of the economic reform programme the country has successfully enforced over the past few years, Maeet said during a meeting yesterday with the South Korean Ambassador to Egypt, Hong Jin-wook.
The reform programme has helped improve the business climate, as well as attracting more investors, in light of the promising investment opportunities in Egypt, the minister said.
He also underlined Cairo’s keenness on promoting relations with Seoul in all domains, noting that the South Korean investments in Egypt are on remarkably on the rise.
Maeet pointed to eagerness to remove obstacles facing Korean companies operating in Egypt to stimulate foreign businesses and achieve stability on the market.
During yesterday’s meeting, Maeet and the South Korean envoy discussed amendments to be introduce to a bilateral agreement to avoid double taxation, in a bid to counter tax evasion and the improve investment climate.
For his part, the South Korean ambassador commended the achievements Egypt has realised in almost all fields over the past few years.
The Egyptian economy is auguring well, as acknowledged by major international institutions and credit rating corporations, envoy Jin-wook said.
South Korea is ready to enhance economic co-operation with Egypt and boosting bilateral trade, he said.
Jin-wook noted that the Korean technology giant Samsung is manufacturing tablets for education purposes in Egypt, and the surplus will be exported to other world countries.
