Global Lenders Consider Participating in Egypt’s Governorates Tech-Villages

Global lenders  are considering investing in the new technological villages across governorates which will be reviewed by the Ministry on Supreme Commission of PPP within days, Mohamed Abdel Wahab, Executive Director of Cairo Contact Centers of Maadi Park revealed.

These lenders include the International Finance Corporation, World Bank and European Investment Bank that focus on the investments which will create several job opportunities, stressing on identifying the targeted activities in each region, Abdel Wahab added.

Egyptian Information and Communication Technology Ministry obtained The approval of the partnerships of private and public sectors with the finance Ministry, expecting that it will get the approval after reviewing the projects in order to permit for the private sector to build in Cairo Contact Centers of Maadi Park and develop the specified five regions by Housing and Information Technology Ministries in Assiut, El Sadat, Borg Arab, Sohag and Beni Suef.

Maadi Park will permit to the firms to obtain areas with usufruct system for 49 years.

Eng. Atef Helmy stated previously that it is schedule to establish 5 technological villages within a few coming weeks in Aswan, Assiut, Beni Suef, Borg El Arab and El Sadat City.

The Minister said the growth proportion in ICT before the uprising was 18% annually and it reached 6% in the last year, it is aiming to make it become 10% in this year, in addition there is a plan to make the growth rate reach up 20% by 2018.