Egypt’s Silicon Waha and China’s electronics company ZTE and Transsion, as well as Huawei and Megan, have signed agreements to set up electronics factories in Borg El-Arab and Assiut technology parks, a report said.

 “In a short period, we concluded deals with four of the most important phones and electronics manufacturers in Egypt to produce their goods locally,” Ahmed El-Sobky, chairperson of Silicon Waha, was quoted as saying in the Daily News Egypt report.

Factories belonging to Huawei, ZTE, and Transsion will be built in the technological park in Borg El-Arab, while Megan will build its factory in the technology park in Assiut, the report said.

According to El-Sobky, part of the locally-manufactured electronics will be put on the market to meet domestic needs and reduce imports, which would ease pressure on hard cash, while the rest will be channelled to exports in order to increase Egypt’s US dollar resources.

The agreement stipulates ZTE will produce ADSL routers and modems, while a Transsion factory will be established on an area of 5,000 sq m to produce mobile phones, tablets, LED lighting products, and consumer electronics.