Egyptian Prime Minister Mostafa Madbouly chaired a meeting in New Alamein City on Sunday to discuss plans to localize mobile phone production for export. The meeting also discussed investment opportunities related to expanding hotel room capacity.

As part of the government’s efforts to attract foreign investment and boost economic growth, Prime Minister Madbouly stressed the commitment to support mobile phone production in Egypt and encouraged international companies to establish themselves in the industry.

“We are working to pave the way to encourage various international companies to establish themselves in Egypt and ensure that this industry operates to the greatest extent possible in the country,” Madbouly said.

The meeting was also attended by Amr Talaat, Minister of Communications and Information Technology, who outlined the objectives of the initiative. Talaat explained that localizing mobile phone production will meet the needs of the Egyptian market, increase exports and deepen local production.

Talaat highlighted the growing presence of mobile phone manufacturers in Egypt, stressing that Samsung established a factory in Beni Suef in 2022 with a production capacity of 2 million units and an investment of $20 million, creating about 400 jobs. Vivo established a factory in Tenth of Ramadan City in the same year with an investment of $20 million, a production capacity of 2 million units and 400 jobs.

Talaat also mentioned that Xiaomi, Nokia, Infinix and Micromax manufacture their phones locally through third parties. The combined production capacity of these four companies is 7.5 million units. He highlighted that Nokia will establish a production line in Asyut in 2023 in collaboration with Seco with a production capacity of 2.5 million units, representing an investment of 20 million dollars and creating 400 jobs.

The government’s efforts to localize mobile phone production have yielded positive results. The total current production capacity of these companies is 11.5 million units, with a total investment of $87.5 million.

The total number of current jobs is 2050, with this number currently increasing due to new expansions.

Talaat also discussed the strategy for localizing the mobile phone industry in Egypt, which includes incentives and mechanisms to attract companies from supplier industries.

In a separate meeting, Madbouly discussed the investment opportunities in land that can be used to build about 250,000 hotel rooms, with the aim of accommodating 30 million tourists annually, an important goal for the government as it seeks to boost tourism.

“In addition to the government’s efforts to promote various tourist destinations, there are goals that the state is currently working on, namely to attract 30 million tourists annually,” said Madbouly. “However, we are faced with the challenge of adding about 200,000 to 250,000 hotel rooms.”

The meeting was also attended via video conference by Sherif Fathy, Minister of Tourism and Antiquities, Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, Hassan El-Khatib, Minister of Investment and Foreign Trade, and Manal Awad, Minister of Local Development.

Madbouly instructed the Minister of Investment and Foreign Trade to work in cooperation with the Ministry of Tourism and Antiquities to attract investors to engage in the development and operation of facilities and hotel rooms.

Fathy proposed setting up a “Tourism Opportunities Bank” to promote existing opportunities. He also stressed the need for tourism incentives, recreational areas linked to the proposed properties and the development of new tourist towns on the Red Sea.

Minister of Investment and Foreign Trade Hassan El-Khatib stressed that the government will work as a team to promote integrated tourism opportunities.

El-Sherbiny reviewed investment opportunities in the hotel sector in new cities and governorates, highlighting proposals to provide over 200,000 hotel rooms in areas affiliated to the New Urban Communities Authority and the General Authority for Tourism Development.

The minister discussed the potential for building hotel rooms at 35 sites in 10 new cities and three governorates. He also presented 16 sites proposed by the General Authority for Tourism Development and 1,381 feddan plots proposed by both authorities for hotel development.

El-Sherbiny has identified concrete investment opportunities for hotel operations on several sites, including twelve opportunities in the area of ​​the Alamein Marina Center and its southern extension, where around 3,000 hotel rooms can be created.

He also highlighted ten opportunities in New Alamein City where 9,000 hotel rooms can be added, two opportunities in New Damietta City where 2,200 hotel rooms can be added, one opportunity in West Port Said where 1,200 hotel rooms can be added, and one plot of land in New Aswan where 1,200 hotel rooms can be created.

He pointed out that the proposed investment opportunities in the new administrative capital include the iconic tower, which will offer about 485 hotel rooms. It is located in the central financial and business district. He also highlighted two plots of land in New Cairo, where the number of hotel rooms from the proposed projects is expected to increase to 1,700.

Finally, El-Sherbiny discussed opportunities in the cities of Sixth of October and October Gardens, where the construction of about 580 hotel rooms is planned, as well as an investment opportunity in New Nasser City in Asyut Governorate, where about 250 hotel rooms can be offered.