Egypt welcomes Kuwaiti Zain investment; Prime Minister says

Egypt will welcome interest in the country’s telecoms industry by Kuwaiti mobile operator Zain, Egyptian Prime Minister Sherif Ismail said Wednesday following meeting with Kuwaiti telecoms officials.

Zain has expressed willingness to apply for a fourth-generation licence in Egypt.

Sherif asserted his government’s willingness to create a positive environment to attract both domestic and foreign investments in all sectors including ICT sector. Sherif also welcomed Zain telecom’s entry into the Egypt’s telecoms sector.

During this meeting, the Kuwaiti delegation showcased Zain’s future investment plans as regards to acquiring 4G licence and establishing new smart cities. On its part, Zain expressed a strong desire to inject large-scale investments into the Egyptian ICT sector as being one of the most promising markets.

More meetings will be held between MCIT officials and representatives of the Kuwaiti company to set out forms of cooperation between the two parties in the best interest of Egypt.

Egypt’s telecoms regulator has already approached the three current mobile service providers – Orange Egypt, Vodafone Egypt, and Etisalat – about potentially buying 4G licenses.

The sale of 4G licenses is part of Egypt’s long-awaited plan to reform the telecoms sector.

The current operators have until the first week of August to submit applications.

Communications Minister Yasser al-Kadi told Reuters earlier in June that Egypt would offer 4G licences in an international auction only if the existing carriers were not interested.

Zain operates in eight countries in the Middle East and Africa.

Egyptian government has previously agreed on authorizing NTRA to prepare the 4G licences including the necessary financial, technical and regulatory obligations, according to the rules in force and stipulated in the Telecommunications Regulatory Law No. 10 of 2003.