News

South Korea to Boost Investment in Egypt With $3 Billion Deals

South Korea to Boost Investment in Egypt With $3 Billion Deals

Egypt's international cooperation minister Sahar Nasr (front L) and South Korean first vice foreign minister Lim Sung-Nam (front R) sign an agreement as Egypt's President Abdel Fattah al-Sisi (back L) and South Korean President Park Geun-Hye (back R) look at at the presidential house in Seoul on March 3, 2016. Egypt's President Abdel Fattah al-Sisi is in South Korea on a three-day official visit. Photo: Pool/Getty Images
Egypt’s international cooperation minister Sahar Nasr (front L) and South Korean first vice foreign minister Lim Sung-Nam (front R) sign an agreement as Egypt’s President Abdel Fattah Al-Sisi (back L) and South Korean President Park Geun-Hye (back R) look at at the presidential house in Seoul on March 3, 2016. Photo: Pool/Getty Images

Minister of International Cooperation Sahar Nasr received a delegation from South Korea on Thursday to discuss the implementation of a number of memoranda of understanding worth USD 3 billion signed during President Abdel Fattah Al-Sisi’s visit to Korea in March.

The financial package includes investments in renewable energy, sewage and water desalination and treatment projects, according to a statement released by the Egyptian Ministry of International Cooperation.

During the meetings, Nasr hailed bilateral economic cooperation between Egypt and South Korea, stating that the purpose of the talks was to follow up on President Sisi’s discussions with the Korean business community during his visit to the country earlier this year.

Meanwhile, the Egyptian-Korean Business Forum also kicked off on Thursday, aiming to deepen bilateral economic ties between the countries and exploring the two countries’ respective markets.

President Abdel Fattah Al-Sisi visited South Korea in March, where he signed a range of multi-billion dollar agreements with his South Korean counterpart.

Dozens Injured as Massive Fire Erupts in Cairo's El-Ataba, Engulfs Hotel
ISIS Claims Responsibility for Deadly Drive-By Shooting of Police in Cairo's Helwan

Subscribe to our newsletter


News

More in News

Credit: Martin Roemers/Anastasia Photo

Professors and Doctors Among 45 Arrested in Egypt Organ Trafficking Ring

Egyptian StreetsDecember 6, 2016
05black

Egypt’s Foreign Reserves Rise to $US 23 Billion

Egyptian StreetsDecember 6, 2016
1200x-1-1024x697-1

Naguib Sawiris Steps Down as CEO of Orascom in Surprise Resignation

Egyptian StreetsDecember 6, 2016
One of the leaked images allegedly from a Heinz Egypt factory.

Senior Heinz Egypt Employee Arrested After 62 Tonnes of Rotten Tomatoes Found

Egyptian StreetsDecember 6, 2016
sticlute-de-parfum-2

Import Tariffs on 320 Goods Increased by up to 60 Percent in Egypt

Aswat MasriyaDecember 5, 2016
One of the leaked images allegedly from a Heinz Egypt factory.

‘Disgusting Video’ of Ketchup Production Called Misleading by Heinz Egypt

Egyptian StreetsDecember 4, 2016
squashwomen

Egypt’s Women Make Squash History Taking Top Three Spots in World Ranking

Egyptian StreetsDecember 4, 2016
Protesters gather to demonstrate Egypt's decision to declare two Red Sea islands as Saudi Arabian. Khaled Ali, pictured, brought a case to the Administrative Court against the decision. Credit: Belal Darder

Egypt’s Constitutional Court Rules Against Interior Minister Authority to Ban Protests

Aya NaderDecember 3, 2016
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2016 ES Media UG. All Rights Reserved.