President Abdel Fattah El-Sisi met on Tuesday 27/4/ 2021 with CEO of the Korean firm “Hyundai Rotem”. Mr. Lee Yong-bae within the presence of Prime Minister Dr. Mostafa Madbouly, Minister of Planning and Financial Growth Dr. Hala El-Stated, Minister of Transport Lieutenant Common Kamel El-Wazir, Minister of Commerce and Trade Mrs. Nevine Gamea, Minister of State for Navy Manufacturing Mohamed Ahmed Morsy, and the Korean ambassador to Cairo Hong Jin-wook.
The Spokesman for the Egyptian Presidency said that the assembly mentioned joint cooperation with Hyundai Rotem for localizing the prepare trade, together with the sign and communication techniques in addition to Command and management tools.
The President emphasised the function of Korea as an efficient growth associate in Egypt and confirmed that the nation is wanting ahead to establishing strategic cooperation with the Korean firm in lots of industrial fields, particularly within the heavy industries. They rely on labor depth and superior know-how.
The President asserted that localizing trade and know-how switch to Egypt are among the many nation’s priorities in cooperating with worldwide companions and a preferential consider contracting for the implementation of commercial tasks in Egypt, significantly as Egypt possess all the weather of trade localization and superior know-how switch, using the biggest doable share of native parts. Therefore, the doorways are open for exporting the corporate’s merchandise to the international locations of the area and the African continent in gentle of Egypt’s strategic location.
For his half, Mr. Yong-Bae Lee expressed how honored he was to satisfy with President El-Sisi. He offered the tasks that Hyundai Rotem aspires to implement in Egypt in the course of the subsequent stage, together with the undertaking aimed to fabricate subway automobiles and command and management tools, develop sign techniques, and implement railway engineering works. It was burdened that the corporate is eager to reap the benefits of the promising alternatives provided by the Egyptian economic system by way of many present or future growth tasks associated to the exercise and experience of the corporate.
Alternatives for joint cooperation within the subject of vitality, particularly inexperienced hydrogen manufacturing, have been additionally mentioned. The goal of this cooperation efforts is to utilize Egypt’s pure sources of recent and renewable vitality, a clear supply of vitality that may very well be used as gasoline for trains.