ULSAN < invest Korea

(ULSAN=NEWSIS) Ulsan City and the Ulsan office of the Small and Medium Business Corporation announced to send a trade mission to the United Arab Emirates (UAE), Egypt and Qatar to make inroads into the Middle Eastern and North African markets.

Eight companies including Rinno Aluminium, Changshin International and CNF Korea were selected among the applicants after conducting market research and feasibility studies.

Demand in basic industrial machinery including production facilities, parts and raw materials are expected to increase in the UAE as its government is carrying out various policies to develop the manufacturing industry to be less dependent on its oil.

Egypt is known to have the strongest manufacturing infrastructure in the Middle Eastern Africa.

Egypt has emerged as a promising investment location in the Middle Eastern Africa as its government has rolled out industrial promotion policies to revitalize its economy, establish an investment-friendly environment and develop the manufacturing industry.

The national finance of Qatar is heavily dependent on its energy industry. However, the non-energy industry holds the key to the economic growth of Qatar, encouraging the government to execute various policies and programs in the non-energy industry.

jhc@newsis.com