Samsung Electronics recently announced a total investment exceeding $700 million in its manufacturing complex in Beni Suef, Egypt. This facility, the first of its kind in the Middle East and Africa and one of only 14 globally, was established in a record time of just ten months, according to Jong Soo Jeong, Chairman of Samsung Egypt.
Egyptian Prime Minister Mostafa Madbouly recently visited the complex, and Jeong revealed that the plant currently has an annual production capacity of 6 million units, including televisions, mobile phones, and tablets. The facility received an injection of $85 million between 2022 and 2024, specifically for producing mobile devices and tablets.
Jeong emphasized Samsung’s commitment to making Egypt a regional hub for production and exportation, serving the Middle East, Europe, and Africa. The Beni Suef plant exports 85% of its television production to over 55 countries, maintaining Samsung’s leading position in the engineering sector exports since 2015.
Samsung’s presence in Beni Suef has not only augmented the technological sector but also significantly boosted local employment. The factory, directly and indirectly, employs about 5,000 workers, most of whom are from Upper Egypt.
Jeong highlighted the company’s dedication to training its workforce to international standards, with employees receiving specialized training in various Samsung facilities around the world, including South Korea, Russia, Hungary, and Malaysia.
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He further underlined that the mobile phone manufacturing facility in Beni Suef currently employs around 1,400 workers and covers an area of over 9,000 square meters. Expansion plans are in progress and expected to be completed by the end of 2024, with production slated to begin in the first quarter of 2025.
Prime Minister Madbouly, in a show of support and trust, recognized Samsung’s contribution to localizing advanced technology manufacturing in Egypt and assured the government’s unwavering willingness to offer various incentives to enhance the company’s competitiveness and facilitate market access from Egypt, ensuring a secure and prosperous future for both Samsung and Egypt.
Samsung’s strategic investment not only enriches Egypt’s manufacturing sector but also strengthens its position as a key economic player in the region, promising significant economic and employment benefits for the local community.
