The minister explained that factory is built on an area of 11,000 square meters, with investments of about US$20 million, increasing to $30 million within a year. The government is keen to develop this important industry in implementation of the presidential initiative “Egypt Makes Electronics”, which aims to localize the electronics industry and make it one of the biggest pillars for the growth of the economy. Encouraging local productionTalaat said that the new Vivo factory will contribute to the transfer of advanced technology specialized in the manufacture of smart phones to the Egyptian market. He added that young Egyptian specialists are scheduled to begin the stages of manufacturing smart phones using international technology. Many international companies working in the electronics industry are interested in expanding their investments in Egypt, he pointed out.

Source: Egypt Independent July 23, 2022 16:29 UTC