Egypt: Samsung Will Begin Production in June 2013

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Two months after the official previsions, the Samsung factory in Kom Abu Rabi in Egypt, will begin its activities in June 2013. Presented as the company’s most important investment in Africa, the group will spend in phase one about 250 million euros.

According to the website econostrum.info the goal is to reach a production capacity of 2 million units pertaining to the TV and LCD screens, 2000 jobs created, as well as one billion dollars in export within the first years.

The Egyptian Secretary of Industry, Hatem SALAH has vowed fo find appropriate solutions to the problems faced by the factory. The custom taxes applied on the raw material required for the making of the screens or the tax exoneration which benefit TV imports make competition unequal for local production.

 

 

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