Prime Minister Mostafa Madbouly met with Samsung Electronics’ Middle East delegation, led by CFO Juhan Yoon and Samsung Electronics Egypt President Won-kyong Kim, reaffirming Egypt’s commitment to supporting technology localization and export growth. The meeting highlighted Samsung’s significant investments in its Beni Suef factory, including $700 million in production facilities and recent expansions to manufacture tablets and mobile phones.
The Beni Suef plant produces 6 million TV screens annually, exporting to over 55 countries, along with 702,000 tablets annually for Egypt’s Ministry of Education, and 1.2 million mobile phones with a recent increase to 6 million units per year. The factory provides around 5,000 jobs directly and indirectly.
Minister of Investment and Foreign Trade Hassan El-Khatib reviewed efforts to settle Samsung’s overdue payments and outlined the new export subsidy program, which allocates EGP 45 billion for export support in 2025/26. This includes EGP 7 billion dedicated to localizing advanced technology industries. An agreement on repayment mechanisms was confirmed, and further discussions were directed to clarify Samsung’s benefits under the new framework.
