Communications Minister: 100 Chinese Companies to Invest in Egypt

Eng. Hany Mahmoud, Minister of Communications and Information Technology, stated that about 100 Chinese companies will launch investments in Egypt in the field of communications and information technology during the coming period.

In his speech on Alhayat Alyoum program, he pointed out that Egypt has called upon China to invest in the production of Tablet PC,  pointing out that China has approved to extend a submarine cable across Egypt, which would link China to the Middle East.

He added that China has decided to establish a factory in Egypt for producing tablet computers “Ipad,” noting that this factory is still under discussion, especially since it depends on  the required amount of these devices.

Egypt has conducted talks with the Chinese side to participate in the investment  of Broadband Internet, which will be executed over the next seven years, the Minister said, emphasizing that  China has promised to share the cost of these investments.

The Minister also pointed out that China will participate in establishing phase 2 and 3 of the technological zone located in Maadi,  allowing local and international companies to export technological services to the world, adding that this zone currently has only 28 buildings.

Moreover, Egypt and China have agreed on building a Research and Development Center (R&D) for studying and developing the technological infrastructure in Egypt with the help of China.