Egypt’s Minister of Communication and Information Technology Amr Talaat has received on Saturday STMicroelectronics’ executive vice president Ricardo De Sa Earp to discuss the company’s investment plans in the North African country.
STMicroelectronics, a French-Italian multinational electronics and semiconductors manufacturer that based in Switzerland, decides to launch a research and development centre in Maadi Technology Park. This centre will be the first specialised investment zone in Egypt.
Photo credit : REUTERS/Denis Balibouse
Talaat entrusted the company’s step to develop its investments in such an important industry, in particular in light the increasing global demand for electronics. This meeting was in the presence of Amr Mahfouz, CEO of Egypt’s Information Technology Industry Development Agency (ITIDA).
“Egypt is set to work on improving its capabilities in the telecommunications industry, supported by its competitive advantages in the value-added service (VAS), which would encourage the business of global tech leaders operating in the country,” the minister said.
“Ministry’s decision to promote an enabling environment for this industry, as part of President Abdel Fattah Al-Sisi’s initiative “Egypt Makes Electronics” for entrenching local electronics design and manufacturing, as a main key of economic growth.” Talaat stressed.
Furthermore, the company’s vice chief uncovered his institution’s plans for developing its business in Egypt, fostering mutual cooperation with ITIDA, and entering into partnerships with national specialized colleges and universities.
“STMicroelectronics looks forward to using its centre in Egypt for bringing about a paradigm shift in the electronics & semiconductors industry and electronic circuit design research.” De Sa Earp added.
STMicroelectronics Inc. offers production services for electronics products including semiconductors, multimedia products, power applications, and sensors. The company works and distributes products all over the world.
