CAIRO – 7 May 2023: Chairman of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba met Saturday with head of Samsung Electronics Egypt to discuss the company's plans to expand in Egypt.
The size of Samsung's current investments in Egypt amounts to $500 million, with sales worth $1.3 billion. As such, it became the country's top exporter of electronics relying on trade agreements with various states and blocs.
The company, which has also been producing the tablets distributed among schoolchildren, provides 5,000 direct and indirect jobs.
In a similar context, the GAFI chairman met with head of Toyota Tsushu, which intends to build two factories in Africa, with an annual capacity of 100,000 cars each, stating that the company mulls establishing one of them in Egypt.
That is because of three factors that are the availability of the necessary feeding industries, skilled labor, and good investment environment.