Cairo – Mubasher: Egypt on Wednesday signed a memorandum of understanding (MoU) with South Korea to boost joint investments.
The deal was signed by South Korean prime minister Lee Nak-yeon and Egypt’s investment and international cooperation minister Sahar Nasr during her visit to the Asian nation.
The MoU aims at enhancing Egypt’s relations with Seoul in all fields in light of the mega development projects that are currently under construction in the North African nation, according to the investment ministry’s statement.
On the other hand, Egypt’s finance minister Mohamed Maait noted that the recent economic reforms introduced by the Egyptian government will help in raising South Korea’s investments in Egypt.
Nak-yeon pointed out that his country is willing to join in partnership with Egypt in the shipbuilding in the new Suez Canal Economic Zone, noting that such projects will be beneficial for Korean companies
