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.
- Thinner screen, tougher requirements? Why Apple suppliers are truly struggling to supply enough screens for next month's iphone 6 lauch
- On cloud 'nine' or more like...'seven': the GCC's clouding industry to grow seven-fold by 2020
- A truce on the fight for supremacy: Samsung, Apple declare a cease-fire on patent war
- Why app developers are thriving in the UAE
- Revealed: the $3 trillion threat