INVESTMENT WATCH- LG to invest USD 15 mn: LG Electronics Egypt will invest as much as USD 15 mn to expand its operations in Egypt, the company’s Egypt boss, Don Kwak said, according to a statement from the Investment Ministry. The statement doesn’t specify where the capital is being committed, but LG Egypt Vice President Alaa Omar noted that the company is targeting expanding its microwave assembly facilities. Kwak noted that the company is now exporting 75% of its production, with export revenues reaching USD 200 mn. Now is the right time to invest in the country on the back of improvements in infrastructure and the investment climate, he said at a meeting with minister Sahar Nasr on Monday. He added that the company has USD 240 mn currently invested in Egypt.

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