TomTom says interested in investing in Egypt

A delegation from the Dutch navigation company TomTom is visiting Egypt Wednesday, expressing interest in investing in the North African country.

The delegation has met Wednesday with Egyptian Minister of Communications Yasser El-Kady.

TomTom NV is an Amsterdam-based company that produces traffic, navigation, and mapping products. TomTom also makes action cameras, GPS sport watches, fleet management systems, and location-based products.

During the meeting, El-Kady has reviewed the technical and economic elements of Egypt’s ICT sector that encouraged TomTom to have presence in Egypt as a destination for the expansion of its business.

The ICT sector in Egypt enjoys many advantages, including the availability of a number of motivating factors that attract global companies and the support provided by the Egyptian Information Technology Industry Development Agency (ITIDA), El-Kady said.

Those factors include for instance the provision of technologically qualified personnel, the training, and the incentive packages, notably in the new technology parks of Borg El Arab and Assiut.

The ICT Minister also pointed to the advantages of technology parks sites which are located near universities, involving centres for technological innovation, entrepreneurship, and training. He also added that thousands of youth calibres are graduating annually from faculties of engineering, computing and information technology and other areas that have a direct relationship to technology.

Tom Tom delegation expressed the company’s interest in the development of the company’s activities in Egypt and the support of the Egyptian Ministry of Communications in providing technological calibres.

TomTom sees great and positive opportunities in Egypt software and digital maps development fields, the delegation told Egyptian minister during the meeting.