Arab Finance: The Arab Organization for Industrialization (AOI) has signed a contract with China Electronics Technology Group Corporation (CETC) to manufacture telecommunications equipment in Egypt, to transfer technology and expand local production in the electronics sector, as per a statement.

AOI Chairman Mokhtar Abdel Latif said the partnership would draw on the Electronics Factory’s manufacturing capabilities to localize advanced electronics technologies and strengthen domestic production for defense and civilian applications.

The AOI seeks to use its factories and companies as a base for strategic partnerships and knowledge exchange with international companies, he added. The organization aims to meet demand in Egypt and friendly countries while entering new export markets with electronic products that comply with international quality standards and offer competitive prices.

The two sides agreed to begin implementing the project according to a defined timetable and coordinate their efforts across areas of shared interest.

Meanwhile, Vice President of CETC said the partnership would support the localization of technology and deepen manufacturing in Egypt by drawing on the AOI’s industrial capabilities, contributing to the development of the country’s electronics industry.

The contract builds on the AOI’s efforts to localize technologies used in defense and civilian electronics and attract international partnerships and investment to the sector, which supports several other industries.