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.
- Tunisian, Moroccan Chambers of Commerce meet to discuss economic partnership
- Winter wonderland: Dubai debuts Aspen Chalets with view of Ski Dubai
- Egyptian economic experts predict inflation rate will continue to climb
- Shoura Council: Expats cannot buy property in Mecca, Medina, Riyadh
- Tensions increase between Egypt, Italy over renewable energy projects