The PM called a cabinet meeting on Tuesday to discuss the establishment of the National Council for the Localization of Technology for Manufacturing Electronic Chips, as well as efforts to localize the industry
Prime Minister Mostafa Madbouly stressed on the importance of developing Egypt’s local manufacturing of electronic chips in a recent meeting, emphasizing the need to stimulate investments and establish a conducive business environment to expand the industry.
Electronic chips, a vital component in electronic devices and automotive manufacturing, have been in limited stock after supply chains were disrupted by the COVID-19 pandemic.
The PM called a meeting on Tuesday to discuss the establishment of the National Council for the Localization of Technology for Manufacturing Electronic Chips, as well as efforts to localize the industry.
Madbouly directed for the development of a proposed plan with specific implementation steps on how to move forward ahead of the council’s formation, stressing the importance of coordination between the concerned authorities to develop the plan.
The meeting was attended by Minister of Finance, Mohamed Maait; Ahmed Al-Zaher, Chairman of the Information Technology Industry Development Authority (ITIDA); Nahed Youssef, Chairman of the Industrial Development Authority; and Hossam Othman, Advisor to the Minister of Communications for Electronics Manufacturing.
Finance Minister Maait reviewed the existing exemptions that can be granted to investors within the industry that would support efforts to localize the electronic chip industry, as well as other possible benefits that could be provided to companies subject to the investment law, the laws regulating small and medium enterprises, or the free zone system.
ITIDA head, Al-Zaher, explained that there are currently around 60 companies operating within this field in the country.
