With An Investment Of $50 Million, Oppo International Sets Foot In Egypt With A Giant Factory

This morning, Dr. Mostafa Madbouly, Prime Minister, inaugurated the factory of the international company “OPPO” for manufacturing smart phones and electronics in 10th of Ramadan City. The opening took place in the presence of Dr. Amr Talaat, Minister of Communications and Information Technology, Engineer Hazem Al-Ashmouni, Governor of Sharkia, and Mr. Lei Ren, President of OPPO in the Middle East and North Africa region, along with a number of company leaders and other officials.

Most prominent statements:

• Prime Minister Dr. Mostafa Madbouly:
  • “Our participation in the opening today comes In harmony With the goals of the presidential initiative “Egypt manufactures electronics”“It seeks to make the electronics industry one of the largest pillars of growth of the Egyptian economy, and the main contributor to doubling exports and reducing imports of electronic and electrical devices, in addition to creating hundreds of thousands of job opportunities and attracting investments.”
  • “Proud of the Egyptian engineers, technicians and workers who provide electronic products at the highest level of mastery and quality that are comparable to their counterparts in developed countries famous for their distinguished industries.”
  • He pointed out that the initiative achieved tangible growth and successes, which were evident in increasing exports and the number of workers in electronics design, establishing local companies, establishing branches of leading international companies, and establishing factories for the first time to manufacture mobile phones, tablet computers, and fiber cables.
• Minister of Communications Dr. Amr Talaat:
  • He stressed that the opening of the factory, which comes as part of an investment plan worth $50 million and will provide 2,000 job opportunities, He embodies Fruitful cooperation between the government and the private sector to implement the goals of the “Egypt Manufactures Electronics” initiative.
  • He pointed out that implementing the mobile phone device governance system strengthened international companies’ confidence in the investment environment and motivated them to expand manufacturing operations in Egypt.
  • “Egypt is an attractive destination for global investments in the mobile phone and electronics industry, and it has succeeded in attracting 15 brands to manufacture phones and accessories with a maximum capacity of 20 million units annually, with total investments amounting to $200 million.”
• President of OPPO Middle East and North Africa, Lei Ren:
  • “This factory is not only evidence of our confidence in the potential of the Egyptian market, but it also represents a strategic platform to provide the latest innovations to the local consumer, create promising job opportunities, and contribute to supporting the national development process.”
  • He explained that the factory provides 2,000 job opportunities and its current production amounts to about 5 million units annually, with a local value added rate exceeding 42%. It plans to begin exporting its products to Arab markets by the end of next year.