Telecom Ministry Seeks Launching Industrial Area of Suez Canal with EGP10 bln

Eng. Atef Helmy the Egyptian Telecom Minister revealed that Suez Canal Developing Axis Project is one of the most important projects for global logistic services depending on three main axes for information and Communication Technology sector.

The Minister noted that the Ministry will develop technological valley through establishing electronics industry on an area of ​​100 feddan so the total investments worth US$10 billion by 2020.

He explained that the infrastructure provides latest development services which needs Optical fiber and applications that help maximizing this logistic region.

He stressed that the Ministry is targeting to make Egypt global center for serving internet, as the country owns Suez Canal and 18 global cables are passing through it, so we have to allure the international firms, noting that the main factors for attracting investments and activating the project will focus on Legislative environment for attracting investments notably the Communications Act and the trading information along with achieving security and political stability.