OPPO establishes a mobile phone factory in Egypt with investments of 20 million dollars
CAIRO - September 13, 2022: The Information Technology Industry Development Agency (ITIDA) on Tuesday signed a memorandum of understanding (MoU) with Chinese electronics company OPPO to establish a mobile phone factory in Egypt with investments of $20 million.
According to the MoU, the production capacity of the plant is scheduled to reach 4.5 million units per year, according to a statement from the Council of Ministers on Tuesday.
These investments will help create 900 job opportunities over the next three to five years.
"The signing of the MoU is part of the presidential initiative to promote the electronics industry as one of the most important pillars of the growth of the Egyptian economy," according to the Minister of Communications and Information Technologies, Amr Talaat.
Talaat added that his ministry will work in coordination with ITIDA and other stakeholders to speed up procedures to set up the new factory, which comes at a very important time as the government seeks to attract more foreign direct investment in all sectors.
For his part, the representative of the Chinese company said that according to the MoU, some $20 million will initially be invested to establish the new factory, with a production capacity of 4.5 million units per year.
The Chinese company "OPPO" was officially established in 2004 and is the owner of one of the world brands in the field of mobile phones. In addition, it cooperates with 10 smart manufacturing facilities located around the world, as well as a global design center located in London.
