Amr Talaat, Minister of Communications and Information Technology, received STMicroelectronics Executive VP Ricardo De Sa Earp to discuss the company’s investment plans in light of launching its operations in Egypt and opening an R&D center in
Maadi Technology Park.
STMicroelectronics (ST) is a world leader in electronics and semiconductor manufacturing, and provides semiconductor solutions; a strategic industry in the midst of an increasing IoT growth and a rising demand for semiconductors and electronic chips. These chips process digital information and are essential components in computers, communications equipment, cars, home appliances, medical equipment, and others.
ST opened a center in
Maadi Technology Park, where about 45 specialized engineers in electronics design and software development are working. The company intends to increase the number of employees to 60 specialized engineers by the end of 2022.
During the meeting, the
ICT Minister praised the step taken by the global company to expand its investment in this significant industry considering the global high demand for these products. He also applauded the selection of Egypt as a destination for establishing its new center for electronics design and development research.
His Excellency highlighted that Egypt seeks to enhance its capabilities and be a top rank in this industry. The country possesses multiple competitive advantages in value-added services (VAS), design, and particularly electronics manufacturing; providing a considerable incentive for major international companies working in this industry to invest in Egypt.
Talaat emphasized MCIT’s keenness to create an appropriate climate to support and develop this substantial industry within the framework of Egypt Makes Electronics presidential initiative.
EME aims to strengthen the localization of electronics industry to contribute significantly to the Egyptian economy’s growth.
The ICT Minister indicated that MCIT has a strategic plan to boost digital capabilities so as to provide calibers and competencies to support the ICT and electronics industry. He endorsed
CREATIVA, an innovation hub to be in the New Administrative Capital’s Knowledge City. It is an up-and-coming integrated environment for designing and developing electronic circuits and systems, involving advanced laboratories, a training academy, and a tech incubator for circuit design and electronic systems startups.
For his part,
IT Industry Development Agency’s CEO Amr Mahfouz underlined the Agency’s commitment to strengthening cooperation with ST and its full readiness to provide all means of support.
ITIDA offers distinguished talents, along with investment incentives to advance operations, accelerate growth, and serve customers of ST from an Egypt-based center.
Mahfouz expressed ITIDA aspiration to increase the number of specialized engineers at ST, as ITIDA is seeking to open new horizons for cooperation. Those combined efforts help in accelerating the growth of knowledge economy, as part of the Digital Egypt Strategy for Offshoring Industry 2022-2026.
Earp stated that ST intends to expand operations, enhance cooperation with ITIDA, and partner with relevant universities, as a source of specialized skills and talents, mainly in embedded software and electronics design. He emphasized that his company is looking forward to creating a tangible impact and achieving a qualitative leap in the semiconductors industry and research related to designing electronic circuits through
ST center in Egypt.
Established in 1957,
ST is an Italian-French company in Geneva in Switzerland, with 80 offices in 35 diverse countries and 13 factories worldwide. The company provides its services to about 200,000 customers of international companies in several sectors. ST data indicates revenues of USD 13 billion, last year. ST has about 48,000 employees around the world, of which 8,400 employees are working in R&D and product development. Additionally, the company obtained nearly 18,500 patents.
