Egyptian Organization ITIDA Showcases Attractive Offers to lure Foreign and Egyptian Investors

January 3rd, 2017   admin   Technology, World news Tags: ,

The Information Technology Industry Development Agency (ITIDA) Egypt recently hosted a workshop that was attended by over eighty representatives from various local and foreign accompanies.  The motive behind the workshop was to attract foreign and local investor by offering them incentives and packages designed by the authority in association with the Ministry of Communications and Information Technology in Egypt.

The workshop covered industry requirements such as electronic systems, circuits designing, and product manufacturing.  Officials from the ITIDA believe the general framework of policies designed by the government for the electronic industry in the country recently is expected generate higher foreign investments.

Such policies will enable further scope of research innovation and development while endorsing higher exports with better trade agreements. Moreover, these policies will expand the capacity of human resources and enhance the regulatory environment. The program is part of the presidential initiative for designing and manufacturing of electronics under the name Egypt Manufactures Electronics that is supervised by the Ministry of Communications and Information Technology.

The initiative is aimed at making the electronic industry one of the reckoning forces driving the economy of the country to a significant extent. The initiative is also expected to increase the export of electronic products and also attain self-sufficiency in the domestic market, which will significantly lower the import rates. In addition, it will create a number of job opportunities in the area of electronics and IT technology.

The initiative will see the production of several high compliant electronic products including tablets, mobile phones, navigation devices and their associated feeding industries such as electric chargers, smart counters, lithium batteries, speakers, LED screens, screens unit, televisions and LED lighting products.

The initiative will also promote manufacturing of renewable energy products namely transducers, solar cells, controllers, energy batteries, and industrial electronics. The workshop hosted by ITIDA will encourage companies to raise their investment amounts on the electronic sector by financing both local and international partnerships in order to improve quality and production volumes. Further, it will also focus on modernizing the existing feeding industries and nurturing the new entrants.

Summary: The Egyptian organization ITIDA and the government of Egypt plans to rave-up the electronics and communication sector in the country.

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