China’s Tus-Holdings sign MoU for Egyptian tech parks

As China’s president is currently visiting Egypt for the first time in 16 years, a memorandum of understanding has been signed in Cairo Thursday aiming to share the Chinese experience in establishing and running technological parks.

Beijing-based Tus-Holdings Co Ltd, has sealed an MoU on cooperation to establish, develop, and operate Egypt’s planned technological and scientific parks.

The MoU is a three-year renewable term aims to provide a consulting platform for the establishment, development, and management of technological and scientific parks set to be established in a number of Egypt’s governorates. Focus, in those parks, will be on the areas of advanced modern technologies such as artificial intelligence, nanotechnology, big data and Internet of Things (IoT).

Upon the MoU, Tus shall become a consultant to provide all the support needed to achieve the Egyptian ministry’s plan to establish the first two technological parks in Egypt before the end of 2016. It shall also work on inviting all the Chinese firms to take part in projects to be located in the Egyptian economic zones and technological parks.

Yasser El-Kady – Egyptian Minister of Communications and Information Technology – has sealed the MoU with Wang Jiwu – President of Tus-Holdings.