Multinational electronics company, Panasonic has announced that it will be expanding its presence in Egypt as it starts production of CCTV cameras beginning in June this year.
This is the company’s second product line since opening its local facility in Mostorod, Cairo in 2017 for manufacturing Panasonic LED televisions.
The Japanese electronics giant stated that the development will bolster the firm’s strategy to strengthen its foothold in the MENA region while reaffirming its support to the country’s burgeoning industrial sector.
Panasonic, in collaboration with Arab Company for Electrical Industries – a company under the umbrella of diversified services firm, MTI Holding Group, Egypt, will be producing three models of technologically-advanced surveillance cameras, all of which will be sold exclusively in the Egyptian market.
“Egypt is a key growth market for us and our confidence is reflected in this decision to expand our operations in the country,” said Yasuo Yamasaki, Director for Panasonic’s System Solutions & Communications Division.
“With a growing consumer base, expanding skilled labour force, strategic geographical advantage and, more importantly, strong government initiatives to support businesses and attract investments, we certainly believe that Egypt offers immense potential,” he continued.
Yamasaki added that with the start of local production for security cameras, the Egyptian market’s growing demand for Panasonic products will be met, at the same time support its core philosophy of contributing to the growth and development of the society.
“The manufacturing unit for CCTV incorporates cutting-edge technologies to ensure the highest quality of security camera production. More than that, we aim to use this as a platform to further engage local skills and therefore provide greater value to our customers,” he said.
Alongside a dynamic business landscape and bright economic prospects, a current infrastructure boom happening in the country presents more opportunities for game-changing security solutions from Panasonic.
“Egypt’s new administrative capital promises to give rise to a new modern mega-city with residential complexes, stadiums, shopping malls and other commercial centers. We are proud to tie-up anew with Panasonic to offer best-in-industry security and surveillance solutions to ensure the success of these infrastructure projects,” said Panasonic Sales Manager for Egypt Hidetaka Sato.
“We are very excited to take our long-lasting partnership with Panasonic to the next level,” said Ashraf Omran, Managing Director and CEO of MTI Holding Group.
“Thanks to the right policies by government, Egypt is becoming a very attractive country for international vendors like Panasonic. Today we are planting a seed which, we foresee, will make a drastic change in Egyptian security and surveillance market,” Omran concluded.