Samsung Egypt aims to increase exports by 50%

Samsung Electronics Egypt (SEEG-S) aims to boost its exports from its facility in Egypt by 50 per cent to $1.05 billion in the recent future, leveraging incentives from the Egypt-EU partnership agreement, as per an Egyptian cabinet statement on Tuesday.

SEEG-S is currently exporting $700 million worth of goods from Egypt, said the company’s chairman John Soo Jung during his meeting with Egypt’s Prime Minister Moustafa Madbouly.

Madbouly expressed his appreciation for SEEG-S operations, noting that the company was one of the leading companies operating in the Egyptian market in the manufacture of electronic devices, including TVs, screens, mobile phones, and tablets.

SEEG-S is a key partner for the Egyptian government, supplying one million tablets to the Ministry of Education and helping modernise the education system, Madbouly added.

The company started building its factory for television and flat screen production in 2012 in Kom Abu Radi, Beni Suef, and began actual production in 2013, the statement mentioned.

It currently employs around 2,000 workers in Egypt, with 100 in marketing and sales and 1,900 in factories. Approximately 85 per cent of the television and flat screen production is exported, while the mobile phone factory focuses on the domestic market.