Dr. Mostafa Madbouly, Prime Minister, met this morning with the delegation of the Chinese company “OPPO”. To review the company’s plans to invest in Egypt during the next phase, in the presence of Dr. Amr Talaat, Minister of Communications and Information Technology, Eng. Amr Mahfouz, CEO of the Information Technology Industry Development Agency (ITIDA), and Billy Cha, Vice President of Abu Company. For external sales and services, Noah Ma, General Manager of Abu Egypt, Ethan Chu, President of the Chinese company Abu in the Middle East and Africa, and Laura Chu, Head of Public Affairs at Abu Company.
At the beginning of the meeting, the Prime Minister welcomed the delegation of the Chinese company “Abu”, expressing his appreciation for the existing cooperation between the company and the Ministry of Communications and Information Technology in order to enhance the company’s investments in Egypt during the next stage by deepening local industrialization in the field of technology.
Dr. Mostafa Madbouly praised the company’s performance globally as one of the most important companies in the field of mobile technology in the world.
For her part, Laura Chu, Head of Public Affairs at Abu Company, said that the company intends to pump new investments into the Egyptian market with an initial value of about $20 million, with the possibility of expanding the values of investments according to future market conditions.
She added that the company plans to establish a new factory in one of the industrial cities in Egypt, with a production capacity of 4.5 million units annually, which will provide about 900 job opportunities within 3-5 years.
For his part, Billy Cha, Vice President of Sales and Foreign Services at Abu Company, confirmed that the company’s decision to expand its investments in Egypt reflects its commitment to the Egyptian market, so that the factory that will be established in Egypt will join 10 other factories owned by the company around the world.
And “Cha” added that officials of the Chinese company “Abu” began two years ago to think seriously and study the Egyptian market, and indeed we have drawn up a plan to establish a factory for us here in Egypt, adding that the company will establish a research and development center at the highest level to achieve the maximum technical benefit from the project, and to develop the skills of workers. By providing training opportunities that raise the levels of manufacturing according to international standards.
He also touched upon the presentation of the efforts made by the company during the period of the “Corona” pandemic within the framework of the company’s role and social responsibility towards the markets in which it operates.
During the meeting, Minister of Communications and Information Technology Amr Talaat explained that the project will start soon, so that production will start next year, adding that the “Abu” company currently employs about 6000 Egyptians.
The minister indicated that for potential export markets, a number of neighboring markets such as African and Arab markets are being studied.
At the conclusion of the meeting, the Prime Minister affirmed that he will provide all forms of support required for the project, especially that the company can benefit from the Egyptian market as a regional hub for manufacturing through which it can access markets in Africa and Arab countries.