LG Electronics seeks to inject additional investments of $15 million that will be used to expand existing production lines, CEO Don Kwak said.
Investment Minister Sahar Nasr, in a meeting with LG Egypt CEO Don Kwak said her Ministry is acting to offer support for the private sector and encourage foreign companies to double their businesses in Egypt.
Egypt is keen on easing measures that face investors in the country, such as LG Electronics.
LG investments in Egypt total some $240 million, Kwak said, noting that now is the right time to do business in the country.
Kwak believes Egypt has great investment opportunities, pointing out that exports of LG Egypt reached about $200 million in 2018.
LG Egypt is seeking to promote exports to new African markets, especially with Egypt chairing the African Union in 2019.