Minister of Communications and Information Technology Amr Talaat inspected Vivo’s new factory — which specialises in manufacturing smart phones in 10th of Ramadan City in Sharqeya on Saturday.
The factory was established on an area of 11,000 sqm with investments estimated at about $20m that will increase to $30m within a year.
The factory is also expected to provide 1,500 job opportunities within a year and use the latest international technologies in production lines and devices for surface mounting, assembly, calibration, and testing.
The minister was accompanied by several officials from the relevant Egyptian authorities and Vivo.
During the visit, Talaat stressed the interest of many international companies working in the electronics industry to expand their investments in Egypt. He also stressed the state’s keenness to develop this important industry in implementation of the Egypt Makes Electronics presidential initiative, which aims to localise the electronics industry and make it one of the biggest pillars for the growth of the Egyptian economy.
Furthermore, he referred to the state’s efforts to attract more foreign investments and establish global partnerships to provide distinguished job opportunities for young people and achieve the government’s vision of deepening local manufacturing and enhancing Egypt’s position in the field of electronics design and manufacture.
Additionally, the minister was briefed on the investment plan and future expansions of the company in Egypt, its export plans, the start of trial operation, and when the final checks will be made to ensure that production started with the highest international technical specifications.
The company’s officials also indicated that the proportion of the local component in the production will be about 45%.
Vivo is a global company specialised in the manufacture of smart phones and their accessories, the production of their own programmes, and the provision of internet services.
