(From R-L)The CEO of the Information Technology Industry Development Agency (ITIDA) Amr Mahfouz, Egypt s Telecommunications Minister Amr Talaat and Egypt s Prime Minister Mostafa Madbouly with the Chinese mobile phone company Oppo delegation during their meeting on Tuesday 13 September, 2022. Photo courtesy of Egyptian cabinet Facebook page.
The meeting was attended by Telecommunications Minister Amr Talaat, CEO of the Information Technology Industry Development Agency (ITIDA) Amr Mahfouz, Oppo's Vice President of Overseas Sales and Services Billy Zhang, General Manager of Oppo Egypt Noah Ma, and President of Oppo in the Middle East and Africa Ethan Xue.
Oppo signed a memorandum of understanding (MoU) with ITIDA on Tuesday to establish the factory.
The delegation expressed its interest in pumping new investments in Egypt with an initial value of $20 million, with the possibility of increasing this in the future.
Oppo also plans to establish a new factory in one of the industrial cities in Egypt with a production capacity of 4.5 million units annually, which will provide 900 jobs within three to five years.
Billy Zhang, for his part, said Oppo's decision to expand its investments shows its commitment to the Egyptian market, noting that Oppo has studied the potential for investment in Egypt over the past two years.
Meanwhile, Minister Talaat said Oppo's new factory will be established soon to start production as of 2023, pointing out that nearly 6,000 Egyptians work at Oppo.