"One billion and 300 million" ..Samsung sales inside and outside Egypt

Representatives of Samsung Egypt expressed their desire to benefit from the golden license system to establish their next factory in Egypt. In light of the incentives and benefits stipulated in the regulations regulating investment in the country.

Samsung Egypt's investments

Revealed Hossam Haiba, CEO of the General Authority for Investment and Free Zones, the volume of Samsung Egypt's investments has exceeded half a billion dollars, and its sales have exceeded one billion and 300 million dollars, and it has become the first exporter in Egypt in the field of electronic devices, in addition to providing 5 thousand direct and indirect job opportunities.

Haiba confirmed that the cooperation between the two sides resulted in   success to invest in Egypt, where the company's investments exceeded half a billion dollars, so that the company succeeds in meeting the needs of both the local and foreign markets.

Job opportunities

Samsung sales exceeded the barrier of one billion and 300 million dollars, and it became the first exporter in Egypt in the field of electronic devices, benefiting from the trade and investment agreements that Egypt concluded with many countries and blocs.

Samsung also contributed to achieving economic development plans and technology localization by manufacturing educational tablets and mobile phones, in addition to providing 5 thousand direct and indirect job opportunities.

Golden license

The two sides reviewed the company's investment plans according to the latest developments in the investment environment in Egypt, the most important of which is the establishment of the golden license unit, which is granted by the Council of Ministers to companies within twenty days only.

The golden license is a comprehensive license for all the permits required to start the activity and establish companies and factories. The company representatives expressed their desire to benefit from the golden license system to establish their next factory, in addition to the incentives and benefits stipulated in the regulations and legislation regulating investment in Egypt.

Foreign investment

"Haiba" explained that the desire of one of the largest electronic companies in the world to expand and to discuss increasing its investments in Egypt reflects the confidence of foreign investment in the Egyptian investment climate.

He declared that the Authority is fully prepared to provide all necessary facilities and facilities to support global investments and support its expansion plans.