Cairo – Mubasher: LG Electronics has decided to increase its investments in Egypt from EGP 100 million to EGP 3 billion, Egypt's investment and international cooperation minister Sahar Nasr said on Thursday.
The minister added that she has received a letter from Don Kwak, executive director of LG Electronics, saying that the company will raise its investments in Egypt to EGP 3 billion.
Nasr stressed that the ministry is keen on providing all facilities to investors, and is working on removing the obstacles facing investors and fostering an attractive investment climate, according to a statement.
Kwak had earlier said that LG Electronics plans to pump new investments into Egypt worth $130 million (EGP 2 billion).
