Arab Finance: Minister of Industry Khaled Hashem met with a delegation from Samsung Electronics led by Chairman Won Kim to discuss the company’s current projects, future expansion plans, and efforts to deepen local manufacturing in Egypt, the Egyptian ministry stated on June 23rd.

The talks also highlighted Samsung’s sustainability initiatives, including its increasing reliance on renewable energy. The company currently uses solar power to meet around 25% of its energy requirements and is studying plans to raise this percentage in the coming period, in line with Egypt’s green transformation agenda and efforts to promote the use of renewable energy sources.

During the meeting, Hashem reaffirmed the ministry’s commitment to supporting Samsung’s production operations, describing the company as a potential success story that could encourage other global manufacturers to establish operations in Egypt.

He noted that the electronics and technology sectors are among the priority industries identified under Egypt’s Industrial Strategy 2030, emphasizing the government’s efforts to position the country as a regional industrial and export hub.

The minister also stressed the importance of increasing the local content ratio in Samsung’s products through greater reliance on Egyptian suppliers. He pointed to the supplier development program implemented by the Industrial Modernization Center, which aims to deepen local manufacturing, strengthen domestic supply chains, and enhance the competitiveness of Egyptian industry.

For his part, Kim expressed appreciation for the support provided by the Ministry of Industry to Samsung’s operations in Egypt. He highlighted the minister’s recent visit to the company’s factory in Beni Suef, followed by discussions with company officials at the ministry.

Kim reiterated Samsung’s commitment to advancing sustainability goals, expanding local manufacturing activities, and developing the capabilities of Egyptian talent working in technology-related industries.