Prime Minister Mostafa Madbouly chaired a meeting to follow up on efforts to localize the electronic chip and semiconductor industry by exploiting Egypt’s rich mineral resources, in the presence of Minister of Petroleum and Mineral Resources Tarek El Molla.

At the beginning of the meeting, Madbouly pointed out the importance of maximizing the added value of Egypt’s mineral wealth.

This comes to implement the directives of President Abdel Fattah El Sisi to establish industries that depend on these resources, such as the manufacture of electronic chips and semiconductors, in an effort to support the Egyptian economy and achieve sustainable development goals, and in a way that enhances the opportunities for global competition in this field.

Madbouly noted the integrated studies being prepared that include maximizing the use of Egypt’s capabilities of white and black sand ore, as well as enhancing manufacturing capabilities in this field, in an effort to localize the industries for electronic chips and semiconductors.

During the meeting, it was approved to begin tender procedures to select a global consultant. Moreover, the Ministries of Finance and Planning and Economic Development were assigned to make the required financial allocations in the general budget for the next fiscal year.