(MENAFN) E7 Group, a prominent entity listed on the Abu Dhabi Securities Market, has unveiled ambitious plans to invest 182 million dirhams (approximately 50 million dollars) in bolstering the operations of its security solutions division, E7 Security. Recognized as a leading provider of technology-enabled security solutions, E7 Security specializes in designing and producing national ID cards, passports, and various security documents for governments, telecommunications firms, banks, and other industries.
The planned investments by E7 Group are strategically aimed at enhancing its passport manufacturing capabilities and facilitating its entry into the burgeoning digital tax stamps sector. With tax stamps witnessing a surge in demand globally, the group seeks to capitalize on this trend to support governments worldwide in curbing illicit trade activities, thereby fostering revenue enhancement efforts.
Digital tax stamps, slated to commence production in 2026, represent a pivotal component of the group’s strategy to expand its footprint in the security solutions arena. These stamps are envisaged to play a crucial role in diverse realms, including combating the illicit trade in tobacco products, particularly as 68 countries have ratified the World Health Organization Framework Convention on Tobacco Control.
E7 Group’s proactive initiatives underscore its commitment to driving innovation and diversification within the security solutions domain. By investing significantly in its E7 Security division, the group aims to fortify its position as a trusted partner for governments and enterprises worldwide in safeguarding critical assets and combating illicit activities.
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