Today, Prime Minister Dr. Mostafa Madbouly witnessed the signing ceremony of a memorandum of understanding between the Information Technology Industry Development Authority (ITIDA) and the Chinese electronics company OPPO. Accordingly, the latter will establish a mobile phone factory in Egypt, with a production capacity of 4.5 million units annually, with investments of about $20 million. The signing ceremony was attended by Dr. Amr Talaat, Minister of Communications and Information Technologies.
The agreement was signed by Eng. Amr Mahfouz, CEO of the Information Technology Industry Development Agency (ITIDA), and Zhang Zhouchuan, who was authorized to sign on behalf of OPPO Egypt.
On the sidelines of signing the memorandum of understanding, Dr. Amr Talaat said: The signing comes within the framework of the presidential initiative launched by President Abdel-Fattah El-Sisi, President of the Republic, “Egypt manufactures electronics” with the aim of promoting the electronics industry as one of the biggest pillars of the growth of the Egyptian economy, by contributing to increasing or doubling Egyptian exports, striving to reduce imports of electronic devices for the local market, and creating job opportunities for hundreds of thousands of engineers and technicians.
Talaat added: “The Ministry of Communications and Information Technology” is the government agency entrusted with supervising the implementation of the program through the Information Technology Industry Development Authority of the Ministry of Communications.
The minister stressed that the ministry, in coordination with ITIDA and other concerned parties, will make every effort to expedite the procedures for establishing the new factory, which comes at a very important time during which the government is seeking to attract more foreign direct investment in all sectors.
The representative of the “OPPO” company said that according to the memorandum of understanding, about $20 million will be invested initially to establish the new factory, with a production capacity of 4.5 million units annually, with more investments being pumped according to market estimates. These initial investments will contribute to providing job opportunities estimated at 900 job opportunities during the next 3-5 years.
It should be noted that the Chinese company “OPPO” was officially established in 2004, and is the owner of one of the global brands in the field of mobile phones, and cooperates with ten smart manufacturing facilities located around the world, as well as a global design center located in London.