Global electronic manufacturers expanding into Egypt
Chinese consumer electronics manufacturer OPPO is planning to invest $20 million in building a new factory in Egypt to produce 4.5 million smartphones annually and create 650 jobs, Heiba said.
He added that home appliances company Haier is planning to implement a new project in Egypt worth $135 million, while Turkish appliance and consumer electronics brand Beko has established a subsidiary in Egypt to build a factory in the 10th of Ramadan City on 114,000 square metres worth $100 million.
Furthermore, Heiba unveiled that the South Korean electronics manufacturer LG Corporation is set to expand in Egypt with a new refrigerator factory worth $200 million.
The Egyptian government is taking various measures to create a better environment for investors, including launching initiatives to facilitate bureaucratic procedures, including the golden licenses.