South Korea’s LG Electronics is targeting around $600 million worth of local and export sales in Egypt for 2018, LG Egypt managing director Don Kwack told Amwal Al Ghad.
LG Egypt had made sales worth around 400 million in 2016, including $150 million for 650,000 television sets exported to Iraq, Saudi Arabia, UAE, in addition to some other Middle Eastern markets, Kwack said in an interview on Saturday.
Last June, LG Egypt started exporting dishing machines to Iraq, as part of a plan to export 50 percent of the local production for the current year, he added.
Kwack further said that LG Egypt targets entering more markets during the current year, including Syria, Libya, and West African countries.
LG’s investments in Egypt are ‘long-term’, Kwack added, saying the group seeks to make the North African country an export hub.