Friday, 09 October 2026
Sisi urges South Korean firms to expand investment in Egypt
Egyptian President Abdel Fattah El-Sisi on Wednesday urged South Korean companies to expand their investments in Egypt, including through a proposed industrial zone in the Suez Canal Economic Zone.
Sisi made the appeal at a roundtable in Seoul with executives and business representatives from 23 major South Korean companies, held during a state visit, the Egyptian presidency said.
He said Egypt wanted to deepen cooperation with South Korea in manufacturing, technology and investment, and highlighted reforms aimed at improving the business climate and attracting foreign capital. These included currency liberalisation, updated investment rules and a greater role for the private sector, the presidency said.
Sisi also cited incentives for investors, including a one-stop system for procedures, competitively priced industrial land, infrastructure and guarantees for investment protection and profit transfers.
The proposed Korean industrial zone could serve as a production and export hub for South Korean firms, giving them access to Egypt’s domestic market and regional markets through the country’s trade agreements, he said.
Sisi called for joint ventures in sectors including shipbuilding, automobiles, electronics, pharmaceuticals, digital technology and renewable energy. He also pointed to potential cooperation in agriculture, food processing, textiles, tourism, oil, gas and mining.
The Egyptian leader urged the two countries to strengthen their business council and hold regular economic forums to turn investment opportunities into concrete projects.
South Korean business representatives welcomed Egypt’s efforts to ease trade and investment, and cited its strategic location as a gateway to Africa and the wider region, the presidency said. Sisi invited the companies to visit Egypt to explore opportunities and pledged continued support for investors.