ICT Minister Yasser ElKady has held talks with officials from Chinese company Yangtze Optical Fibre and Cable (YOFC) and Huawei Egypt to discuss the final steps needed for establishing a high-tech factory for the company in Egypt, aiming to serve increasing domestic demand and to export to the region. This is part of the ICT sector strategy, aiming at establishing many technology parks to be centres for manufacturing.
At the meeting, ElKady underlined the support of the ministry for global companies that demonstrate a serious interest in investing in Egypt, and its willingness to provide a suitable environment for investment, referring to international trade agreements signed by Egypt to facilitate the export process. YOFC, a partner of Huawei Global, has the highest market share in the world in the field of fiber-optic cable, and is one of the largest investment entities in China.
YOFC selected Egypt as a vital destination for creating a new plant, considering the maturity of the Egyptian ICT sector and the state’s interest in development and improvement.
Source: https://www.telecompaper.com/news/yangtze-optical-fibre-and-cable-mulls-egyptian-factory--1184422
