Taiwanese Foxconn seeks to pump new investments in Egypt

Minister of Trade and Industry Tarek Kabil held a meeting with a delegation of electronics manufacturing giant Foxconn Group under its deputy CEO Wei-Shin Chang.

They discussed the company’s plan to establish new project in Egypt to manufacture electric components and export them to major world companies.

he minister said the company’s projects in the Egyptian market coincide with the ministry’s strategy to upgrade the engineering industry sector, expressing keenness on expanding in electronic industrial projects to turn Egypt into an electronics production and export hub to serve Middle East and African markets.

He said the Egyptian government reached an advanced stage in its economic reform program which contributes to providing an industrial infrastructure paving the way for more industrial and investment achievements.

For his part, the Foxconn Group official said his company’s investments in Egypt came after the positive developments witnessed by the Egyptian economy during the past period.

He said his company has carried out mega projects in China, Taiwan, Australia, the Czech Republic, Russia, Hungary, Mexico, Slovakia, Turkey and the United States and is seeking to pump investments in Egypt’s markets.