Samsung Electronics Egypt mulls expansion plans in local market

Agence France-Presse (AFP)/AFP

Samsung’s investments in Egypt have reached over $500 million so far

Staff Writer, Arab Finance

May 7, 2023

PHOTO

Samsung Electronics Egypt is probing expansion plans in the Egyptian market, according to a statement by the General Authority for Investment and Free Zones (GAFI) on May 7th.

Samsung’s investments in Egypt have reached over $500 million so far, with sales exceeding $1.3 billion, GAFI’s CEO Hossam Heiba said.

The company has become the top exporter of electronics in Egypt and has succeeded in fulfilling the demand of both domestic and international markets, he added.

It has also contributed to the localization of the electronics industry in Egypt by manufacturing electronic tablets and mobile phones, creating around 5,000 direct and indirect job opportunities, Heiba noted.

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