Arab Finance: Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, held talks with executives from Samsung and LG to discuss investment expansion plans and increasing the local component ratio in their products, as per a statement.

The meetings come as part of Egypt’s efforts to strengthen its position as a destination for foreign direct investment and deepen local manufacturing, particularly in the electronics sector. Discussions focused on enhancing strategic partnerships with global manufacturers and increasing added value within the domestic economy.

Farid said the government is prioritizing the localization of the electronics industry as a key driver of sustainable economic growth, noting that Egypt offers competitive advantages including modern infrastructure, updated legislation, flexible investment incentives, and a skilled technical workforce.

During talks with Samsung executives, the minister reviewed investment incentives under the Investment Law and how the company could benefit from them to expand its operations in Egypt. Both sides discussed increasing local content in televisions and monitors, with a focus on the Open Cell Screen, a core display component that is currently imported.

Farid highlighted the need to attract global manufacturers of this component to establish operations in Egypt, as part of efforts to complete missing production chains, reduce reliance on imports, and improve the efficiency of local supply chains.

In a separate meeting with LG executives, discussions focused on the company’s future investment plans in Egypt, including opportunities to expand production capacity and grow the local supplier base. The talks also addressed operational challenges facing expansion, with the minister affirming that proposals to improve the business environment would be reviewed.

Farid said the ministry is adopting an open door approach toward serious investment initiatives. He added that the government’s broader strategy focuses on attracting feeder industries that support major manufacturing operations, creating an integrated industrial ecosystem that enhances the competitiveness of “Made in Egypt” products in global markets.

The minister also directed specialized teams within the ministry to follow up on the outcomes of the meetings to ensure that agreements are translated into tangible projects that support industrial development, boost exports, and generate economic returns.