Egypt, Korea collaborate to digitise public e-procurement system

Egypt’s Minister of Finance Ahmed Kouchouk said that the government is collaborating with Korean experts to modernise and digitise its public e-procurement system, as per a statement from the Cabinet on Sunday.

Addressing a seminar on public procurement with the Korea International Cooperation Agency (KOICA), Kouchouk highlighted the goal of maximising competition, reducing costs, and increasing private sector involvement in economic activities. The ministry aims to improve governance and transparency in public procurement by working with the business community to boost investor participation and competition in public contracts, Kouchouk stated.

The minister expressed optimism about increasing Korean investments and development co-operation projects in Egypt to strengthen bilateral relations and benefit both countries, in a manner that serves the interests of both peoples.

Wonsam Jang, Chairman of the KOICA, expressed his appreciation for the Egyptian government’s efforts to enhance the efficiency and transparency of the public e-procurement system.

He noted the aim of fostering transparent participation in public procurement in Egypt and emphasised the country’s significance as a key development partner for KOICA in the Middle East and North Africa to achieve sustainable development goals.

South Korean Ambassador in Cairo, Kim Yong-Hyun, highlighted his country’s dedication to enhancing development cooperation in Egypt through digital solutions to boost private sector involvement in economic growth.

Attribution: The Cabinet’s statement

Subediting: M. S. Salama