UAE Invests $ 1 bln in ICT Sector: Says Egypt’s Telecom Minister

The Egyptian Telecom Minister, Eng. Atef Helmy, has revealed that the volume of investments which pumped by UAE in Egypt in the information and communication technology sector which exceeded more than EGP 6 or 7 billion ($ US dollar 1 billion).

The Minister has pointed out that the cooperation with the UAE government represents two parties, the first representative in Etisalat Egypt enterprise, and the second trend representative in the presence  of the activities carried out by some Egyptian firms in UAE market. But more investments is pumped from UAE side, especially in the technological villages in Egypt.

Helmy said we have projects exceed more than EGP 6 or 7 billion, and we don’t expect to pump them directly but through phases within the coming period.

Helmy has noted that the most prominent projects which are preparing by UAE is GITEX, which will be held in Dubai during the period from 20 until Oct. 24.

Helmy has further said the UAE support to Egypt asserting that this support will open many chances in order to cooperate with the two sides in all sectors, expressing his hope for pumping UAE investments.