EGYPT – In Egypt, the subsidiary of the South Korean multinational Samsung, the consumer electronics and domestic appliances giant has kicked off negotiations for the creation of a factory for technology equipment manufacturing.
It has launched a series of talks with executives of the information Technology Development Agency (ITDA) and the Ministry of Communications and Information Technology. The aim is to create a manufacturing chain in Egypt for smartphones and other equipment for the Internet of Things.
The talks have been on-going for some time and currently the agency’s representatives are discussing possible tax incentives to be ensured with the Egyptian government in view of the investment made.
In 2013 in Egypt, Samsung opened a factory in Beni Suef with an investment of approximately 95 million Euros for the production of flat screens, television sets, etc. It is reported that the facility has a production capacity of about half a million flat screens per year, 79% of which is intended for the local market.
Samsung’s aim is to transform Egypt into one of its assets as regards the African and Middle Eastern market.