Egypt Says Tech-Valley Project May Attain US$1bln Annual Exports

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The Egyptian Information and Communication Technology (ICT) Ministry expected that technological valley project in Suez Canal will attain nearly US$1 billion annual exports.

An official source in the Ministry said it is targeted to exploit from 40-50% of the project’s area, stressing that the total area of the project reached about 100 feddan.

The government is focusing on exporting information technology services including outsourcing and call center services, the annual exports reached around EGP12 billion.

In statements to Amwal Al Ghad, the source added that the expected cost for launching the project will up to EGP4 billion, noting the Ministry is aiming implementing the project by depending on Public and Private Partnership (PPP).