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Thursday, 31 May 2018

Electronics manufacturing giant Foxconn, which makes the iPhone for Apple, is eyeing Egypt opportunities

INVESTMENT WATCH- iPhone manufacturer Foxconn eyeing Egypt opportunities: Prime Minister Sherif Ismail met on Wednesday with execs from Taiwanese electronics giant Foxconn Group to discuss potential partnerships in manufacturing, according to a cabinet statement. The meeting comes one day after representatives of the company, formally known as Hon Hai Precision Industry Co., met with executives from the Arab Organization for Industry (AOI) and ICT Minister Yasser El Kady to discuss a potential collaboration to locally manufacture tablet devices for the Education Ministry. Education Minister Tarek Shawki separately told Al Mal yesterday that the Education Ministry received seven offers from international technology companies to supply tablets for schools.

Don’t expect an imminent announcement, but still: One doesn’t get a meeting with the PM if one’s intentions aren’t serious — and haven’t been seriously vetted.

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