ITIDA offers foreign, Egyptian investors local electronics manufacturing incentives
The Information Technology Industry Development Agency (ITIDA) organised workshops, attended by more than 80 representatives of foreign and local companies, to offer packages and incentive programmes designed by the authority in coordination with the Ministry of Communications and Information Technology. The workshops are meant to cover the industry’s needs such as circuits designing and manufacturing and electronic systems and products.
Hossam Osman, executive vice president of ITIDA, said that the general framework of the strategy adopted by the state in the field of electronic industries is based on stimulating foreign investments. He added that this strategy enables research development and innovation, while promoting exports by activating trade agreements, developing the capacity of human resources, and improving the regulatory environment.
This comes in light of the presidential initiative for the design and manufacture of electronics called Egypt Manufactures Electronics, which is overseen by the Ministry of Communications and Information Technology. The initiative aims to make the electronics industry one of the pillars of economic growth by doubling Egyptian electronics exports, and achieving self-sufficiency in the local market, which lowers the rate of imports. The initiative also aims to provide new job opportunities for professionals and technicians working in this field.
The initiative seeks to manufacture a number of promising electronic products including mobile phones, tablets, navigation devices, and its feeding industries such as lithium batteries, electric chargers, screens unit, speakers, LED lighting products, smart counters, televisions, and LED screens. Under the initiative solar energy systems such as solar cells, transducers, controllers, energy batteries, and industrial electronics would have local manufacturing rates ranging from 40-60%.
Stimulus programmes provided by ITIDA includes encouraging companies to increase their investments in the field of electronics such as their capital attraction programme, which includes financing a local partnership with an international company or financing a local company that manufactures one of the most promising products and its feeding components with advanced technology.
Stimulus programmes also include the capital programme for modernising feeding industries. This programme includes financing a local party to develop existing feeding industries. ITIDA also offers a programme for supporting operating expenses, which aims to increase competitiveness of some components manufactured locally such as printed circuits, micro-chips packaging, headphones, and lithium batteries.
ITIDA also has an innovative designs stabilisation programme designed to finance the research, development, and creativity of electronic components in electrical appliances, automobiles, and other projects.
Stimulus programmes also include the development programme for financing companies’ research in the field of the Internet of Things and emerging electronic companies. This programme provides financing in the field of electronic design and covers the financing costs of design patents on an international level.
ITIDA also offers a technical and specialised training programme, which focuses on basic and advanced training levels for workers in the electronics industry. The programme is meant to generate 500-800 engineering graduates a year. Furthermore, the technical training programme offered by ITIDA aims to produce 2,000 skilled technicians and workers a year. Another programme aims to train 50-100 entrepreneurs and leaders every year.
Source: Daily News Egypt
