The Minister of Communications and Information Technology Amr Talaat has received STMicroelectronics Executive Vice President Ricardo De Sa Earp to discuss the company’s investment plans in light of launching its operations in Egypt and opening a research and development (R&D) center in Maadi Technology Park.
STMicroelectronics (ST) is a world leader in electronics and semiconductor manufacturing, and provides semiconductor solutions, which are one of the significant and strategic industries in light of the increasing growth in the Internet of Things (IoT) and the increasing 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 has 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 this year.
During the meeting, the ICT Minister praised the step that the global company has taken to expand its investment in this significant industry in light of the growth of the global demand for these products. He also commended the selection of Egypt as a destination for the establishment of its new center specialized in electronics design and development research.
The ICT Minister highlighted that Egypt is seeking to enhance its capabilities and rank in this industry. The country enjoys many competitive advantages in value-added services (VAS), design, and manufacture of electronics, which is an incentive for various major international companies working in this industry to invest in Egypt.
Talaat emphasized the keenness of the Ministry of Communications and Information Technology (MCIT) to create an appropriate climate to support and develop this significant industry within the framework of the Egypt Makes Electronics (EME) presidential initiative. EME aims to indigenize the electronics industry and make it one of the significant fundamental pillars of the Egyptian economy’s growth.
The ICT Minister added that MCIT has a strategy to boost digital capabilities to provide calibers and competencies to support the ICT and electronics industry. He pointed out that a CREATIVA Innovation Hub is being established in the Knowledge City in the New Administrative Capital to provide an integrated environment for the design and development of electronic circuits and systems industry, including advanced laboratories, a training academy, and a technology incubator for startups working in circuit design and electronic systems.
For his part, the CEO of the Information Technology Industry Development Agency (ITIDA) Amr Mahfouz underlined ITIDA commitment to strengthening cooperation with ST and the Agency’s full readiness to provide all means of support, specialized calibers, and other investment incentives to advance ST operations, accelerate its growth, and serve its customers from its center in Egypt.
Mahfouz expressed ITIDA aspiration to increase the number of specialized engineers at ST, as ITIDA is seeking to open new horizons for cooperation to contribute to accelerating the growth of the knowledge economy, within the framework of implementing the Digital Egypt Strategy for Offshoring Industry 2022-2026.
Earp stated that ST intends to expand its operations, enhance cooperation with ITIDA, and establish partnerships with specialized colleges and universities as they are a source of specialized skills and talents, especially in embedded software and electronics design. He emphasized that ST is looking forward to creating a tangible impact and achieving a qualitative leap in the industry of semiconductors and research related to designing electronic circuits through its center in Egypt.
Established in 1957, ST is an Italian-French company in Geneva in Switzerland, that has 80 offices in 35 different countries and 13 factories around the world. The company provides its services to about 200,000 customers from international companies in various sectors. ST data indicates revenues of $13 billion, last year. The number of ST employees is about 48,000 around the world, where about 8,400 employees are working in R&D and product development. Additionally, the company owns nearly 18,500 patents.
