Cairo – Mubasher: Samsung Electronics Egypt is looking to inaugurate a new production line for manufacturing computer monitors with investments of $23 million in August, the company’s chairman Choonki Kwon revealed.

Over the next five years, the electronics firm aims to inject $84 million worth of investments, Kwon said on a statement released by the Egyptian cabinet on Sunday.

This came during his meeting with chairman of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab to discuss the company’s future expansion plans in Egypt.

Egypt is one of the major export hubs for Samsung Electronics with its factory in Beni Suef accounting for the largest part of products in the Middle East, Africa, and South Europe, Kwon pointed out.

Samsung Electronics Egypt exports more than 85% of its products, he added.