Samsung Electronics' chip production plant at Pyeongtaek, South Korea. Reuters
Samsung Electronics' chip production plant at Pyeongtaek, South Korea. Reuters
Samsung Electronics' chip production plant at Pyeongtaek, South Korea. Reuters
Samsung Electronics' chip production plant at Pyeongtaek, South Korea. Reuters

Samsung to set up mobile phone factory in Egypt


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Samsung Electronics, the world's biggest mobile phone and memory chips manufacturer, has agreed to set up a new mobile phone factory in Egypt as the country seeks to attract investment to support its economy.

Construction of the plant, which will be located in the Beni Suef governorate, south of Cairo, is expected to begin in the fourth quarter of 2023, Egypt’s Ministry of Communications and Information Technology said.

The plant, which will produce the latest versions of mobile devices, will create 1,400 direct and indirect job opportunities in the country, especially in Upper Egypt.

“Egypt has become an attractive destination for many major companies operating in electronics design and manufacturing,” said Amr Talaat, minister of Communications and Information Technology.

“Businesses choose to manufacture in Egypt to serve the local market and export to regional markets.”

The investment by the South Korean company comes after Egypt, the Arab world's third largest economy, introduced a round of legislative and economic reforms to boost private sector participation.

The amendments were made last month following repeated complaints from Egyptian and foreign private sector investors that red tape, variable tax laws and favouritism towards state companies were discouraging them from investing in the country.

Increasing the role of the private sector and reducing the role of state companies in the Egyptian economy was a key condition upon which the International Monetary Fund agreed to give Egypt another round of funding worth $3 billion earlier this year.

The latest deal with Samsung is part of the CIT ministry's “Egypt Makes Electronics” presidential initiative, aimed at doubling the country's electronics exports and boosting jobs growth for engineers, researchers and technicians.

It aims to attract investors to manufacture “promising electronic products with high and fast payoffs”, such as mobile phones, tablets, GPS tracking devices, light-emitting diode (LED) lighting, smart meters, LED TVs and displays, and solar energy systems, according to the ministry's website. ​​

The initiative offers a range of incentives for companies, including tax breaks, land discounts and access to training and research facilities.

It also provides support for start-ups and small businesses through its incubation and acceleration programmes.

“The establishment of the new Samsung factory in Beni Suef is a continuation of the successful co-operation with Samsung, which has already resulted in the manufacturing of educational tablets in Egypt,” Mr Talaat said.

“We are committed to enacting new incentives and policies for investors in addition to providing highly skilled professionals in the supporting sectors of the electronics industry,” he added.

In April, Samsung led the mobile device market in Egypt with a market share of about 26 per cent, according to Statista.

Chinese smartphone maker Oppo and Apple were in the top three with shares of around 17 per cent and 15 per cent, respectively, the data portal said.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
UAE currency: the story behind the money in your pockets
Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Ultra processed foods

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

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MATCH INFO

CAF Champions League semi-finals first-leg fixtures

Tuesday:

Primeiro Agosto (ANG) v Esperance (TUN) (8pm UAE)
Al Ahly (EGY) v Entente Setif (ALG) (11PM)

Second legs:

October 23

RESULTS
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Country-size land deals

US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:

Louisiana Purchase

If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.

Florida Purchase Treaty

The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty. 

Alaska purchase

America's spending spree continued in 1867 when it acquired 1,518,800 km2 of  Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".

The Philippines

At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million. 

US Virgin Islands

It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.

Gwadar

The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees. 

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

How much sugar is in chocolate Easter eggs?
  • The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
  • The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
  • The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg
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Company%20profile
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Updated: June 04, 2023, 6:49 AM`