A brighter tomorrow: Egypt poised to become Samsung's regional hub
Egypt is positioned to become a regional export hub for Samsung products, with locally-manufactured computer monitors being shipped to Europe.
Kinam Lee, president of Samsung's factory in Beni Suef, said that Egypt is "one of the largest and most pivotal markets" in the MENA region.
First opened in July 2014 with an investment of $1.8 million, the plant began exporting last November and has since sold 10,000 computer monitors in Slovakia and the Netherlands.
Lee added that that Samsung believes that the factory, which employs 1,000 workers, is helping to support the local economy in Beni Suef.
The official unemployment rate in Beni Suef governorate floats around 6 percent, but observers estimate the actual number of the jobless to be much higher.
- Shoura Council: Expats cannot buy property in Mecca, Medina, Riyadh
- Tensions increase between Egypt, Italy over renewable energy projects
- In wake of failed coup, Turkey shuts down all Gulen-linked businesses
- Saudis, Jordanians top the list of Arab property buyers in Dubai
- Mandatory health insurance required for Dubai residents