Cairo – Mubasher: The Arab Organization for Industrialization (AOI) has signed a memorandum of understanding with South Korean Gwangju Technopark for cooperation in the fields of multi-purpose cars, appliances, medical and healthcare industries, and renewable energy, according to an official statement.
Head of AOI Abdel-Moneim El-Terras stressed the significance of cooperation with global companies under the guidance of President Abel Fattah el-Sisi with regard to the localisation of technology and the increase of local components in national industries.
The MoU with the South Korean company is aimed at the development of AOI’s products and manufacturing capacities using latest technologies in various industries, along with the enrichment of the experience of the organisation's employees, El-Terras added.
The top official said that the MoU promotes investment opportunities and trade exchange between Egypt and South Korea.
