Cairo – Mubasher: Taiwan-based Foxconn Technology Group is looking to set up a new project in Egypt for manufacturing and exporting electrical components to major global companies.

This came on the sidelines of a meeting held by Egyptian trade minister Tarek Kabil with a delegation of the Taiwanese electronics manufacturing giant, headed by its deputy CEO Wei-Shin Chang.

Foxconn Group’s projects in the Egyptian market are coinciding with the ministry’s current strategy to develop the engineering industry sector and turn Egypt into an electronics production and export hub to serve the Middle East and African markets, Amwal Al Ghad reported, citing the minister.

For his part, CEO of Foxconn Group Wei-Shin Chang said the company’s investments in Egypt were based on the positive developments in the Egyptian economy over the past period.

It is worth noting that the Taiwanese group has implemented megaprojects in China, Taiwan, Australia, the Czech Republic, Russia, Hungary, Mexico, Slovakia, Turkey and the US.