Egypt reduces mobile phone imports by 99.9% in H1

In a phone interview with MBC Masr satellite TV channel, Ramadan explained that eight factories that manufacture phones locally have recently been established in Egypt.

His comments came in response to circulating reports about the government imposing fees on imported mobile phones.

He didn't confirm or deny the reports, revealing that a meeting with the National Telecommunications Regulatory Authority (NTRA) to clarify any such measures is scheduled for Sunday.

Ramadan said such a decision could have potential benefits but expressed concerns about the implementation process. He called for a grace period for traders to sell their existing stock.

Additionally, he said those who purchased devices from abroad but have not yet activated them may encounter issues upon activation if the NTRA no longer supports them. Therefore, a grace period should be implemented to allow for activation.

He also called for avoiding fees on those who brought mobiles from abroad for personal use or as gifts. "Whoever comes from abroad brings a phone or two as a gift; it's no big deal," he noted.

The government is seeking to localize several industrial sectors, including increasing the percentage of local components, reducing the import bill, and increasing exports to more than $146 billion by 2030.

The efforts are part of the country's plan to reduce pressure on foreign currency reserves.