Minister of Communications and Information Technology Amr Talaat inspected the new Vivo Communications Technology Factory that specialises in manufacturing smart phones in the 10th of Ramadan City in Sharqeya.
The factory was established on an area of 11,000 sqm with investments estimated at $20m that will increase to $30m within a year.
The factory will 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.
During the visit, Talaat stressed the interest of many international companies working in the field of electronics to expand their investments in Egypt. He also emphasised the state’s keenness to develop this important industry as per President Abdel Fattah Al-Sisi’s ‘Egypt Makes Electronics 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 reviewed the state’s efforts to attract more foreign investments and establish global partnerships to provide excellent 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, he said that the new Vivo factory is set to contribute to the transfer of advanced technology specialised in the manufacture of smart phones to the Egyptian market, where it is scheduled to start the manufacturing young Egyptians specialized using international technology.
Talaat was also briefed on the factory’s investment plan and future expansions of the company in Egypt, along with its export plans, the start of its trial operation, and the start of production with the highest international technical specifications.
Moreover, the company’s officials also indicated that the proportion of the local component in the production is 45%.
Vivo is a global company specialising in the manufacture of smart phones and their accessories, the production of their own programmes, and the provision of internet services.