Hisense Egypt TV factory laid the foundation in the TEDA Cooperation Zone.

On February 17, Hisense Group held a groundbreaking ceremony for its television factory project in Egypt at the China-Egypt TEDA Suez Economic and Trade Cooperation Zone (TEDA Cooperation Zone). This move marks a key step in Hisense Group's industrial layout in Egypt and symbolizes the beginning of a new chapter in China-Egypt economic and trade cooperation. Attendees included Chairman Walid of the Suez Canal Economic Zone Authority, Wei Jilin, Assistant Vice President of Hisense Middle East and Africa, COO Ismail, General Manager of Hisense Egypt Wang Xicheng, Business Director of Hisense Egypt Hossam, and Executive Director of TEDA Special Zone Development Company Cao Hui.

At the groundbreaking ceremony, representatives from both China and Egypt gathered to witness this historic moment. The head of the TEDA Cooperation Zone stated in his speech: "The groundbreaking of the Hisense FBB project is not only an important milestone in the development history of Hisense Group but also a new starting point for China-Egypt economic and trade cooperation. Since its establishment in 2008, the cooperation zone has gone through seventeen years of ups and downs. Now, the cooperation zone has attracted nearly 180 enterprises, with a total investment exceeding 3 billion USD, forming multiple industrial clusters, and becoming a shining pearl of economic and trade cooperation between China and Egypt, China and Arab countries, and China and Africa. The addition of the Hisense FBB project will bring new breakthroughs to the home appliance industry in the cooperation zone, assist Hisense in completing its strategic layout in the Middle East and North Africa, and promote the localization of related products in Egypt to meet international market demand."

Hisense Group, as a well-known home appliance enterprise in China, owns several listed companies such as Hisense Visual Technology and Hisense Home Appliances, as well as multiple well-known brands including Hisense, Toshiba TV, and Rongsheng. In 2022, Hisense achieved an annual revenue of 184.9 billion yuan and a total profit of 12.3 billion yuan, with overseas revenue accounting for over 83%, demonstrating its strong competitiveness in the global market. The television factory project in Egypt, in cooperation with the UAE family business FBBTECH, is an important step in Hisense's internationalization strategy and reflects its emphasis and confidence in the Egyptian market.

The Hisense Egypt television factory project is located in the expansion area of the TEDA Cooperation Zone and is divided into two phases. The total investment for the first phase is 38 million USD, mainly covering black electrical products such as televisions, audio equipment, and displays, as well as the import of raw materials like injection molding and sheet metal. The first phase includes three assembly lines with a combined annual production capacity of 1.635 million units, covering sizes from 32 inches to 75 inches. The second phase plans to further invest in cold assembly lines and gradually expand production to white electrical products such as air conditioners and refrigerators.

The implementation of the project is of great significance to Egypt's black and white electrical industry, promoting updates in technology, production methods, and management practices, enhancing product quality and efficiency, and increasing competitiveness. At the same time, the project will create a large number of job opportunities, requiring 500 and 700 local employees for the first and second phases respectively, helping to alleviate unemployment and improve vocational skills. The project also includes training for local employees to enhance the technical level of the workforce. In addition, the export of project products will bring significant foreign exchange income to Egypt, with the first and second phases expected to generate approximately 300 million and 500 million USD in foreign exchange respectively, helping to increase the country's foreign exchange reserves, promote economic diversification, attract foreign investment, and drive economic growth and employment.

At the groundbreaking ceremony, a relevant person in charge of Hisense Group stated: "The groundbreaking of the Hisense Egypt television factory project is an important milestone in Hisense's internationalization strategy. We will fully leverage our technological advantages and management experience, combined with local resources in Egypt, to create an efficient, environmentally friendly, and sustainable modern factory. We believe that with the joint efforts of both China and Egypt, this project will achieve great success and inject new momentum into China-Egypt economic and trade cooperation."

The successful holding of this groundbreaking ceremony not only laid a solid foundation for the Hisense Egypt television factory project but also injected new vitality into the development of the TEDA Cooperation Zone. Looking ahead, the Hisense Egypt television factory project will steadily advance under the close cooperation between China and Egypt, contributing to China-Egypt economic and trade cooperation and making a positive contribution to Egypt's economic development and industrial upgrading.

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