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Sunday, 3 June 2018

Foxconn looking to manufacture and export electronic parts from Egypt

INVESTMENT WATCH- Foxconn looking to manufacture and export electronic parts from Egypt. Picking up where we left off on Thursday: Foxconn Group is looking at how to integrate Egypt into its global supply chain. Trade and Industry Minister Tarek Kabil met with a delegation of top executives from the Taiwanese electronics maker to discuss the details of a new manufacturing plant the company is looking to set up in Egypt, according to a ministry statement. The plant would produce components for electronic devices that would be exported out of Egypt to be used by other global brands in their factories worldwide. The delegation from contract manufacturer Foxconn — whose client list includes Apple, Samsung and Sharp — had met Prime Minister Sherif Ismail last week to discuss the potential investment, the value of which has yet to be announced.

Foxconn could likely team up with the Military Production Ministry on the new factory. Execs from Foxconn sat down with Military Production Minister Mohamed El Aassar on Thursday to explore a potential manufacturing partnership using ministry facilities, Al Mal reports. Foxconn reps had met with the Arab Organization for Industry and ICT Minister Yasser El Kady earlier last week to discuss a possible collaboration to locally manufacture tablet devices for the Education Ministry, which will be distributing them free of charge to both public and private school students at the start of the new academic year in September.

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