Egypt is offering Saudis investment opportunities valued at 33 billion Egyptian pounds, including e-trade, financial services, justice and education. It is encouraging Saudi businessmen to explore and exploit these opportunities through partnerships with Egyptians or as individual investors.
The vast investment scope figured during a meeting between Minister of Communications and Information Technology Mohammad Jamil Mulla and his Egyptian counterpart Atef Hilmi in Riyadh.
Investment areas included the construction of a broadband infrastructure, development of techno cities in Al-Ma'adi, Asyout and Al-Mansourah, and building a center for gigantic data that uses marine cables, as well as developing the Valley of Technology in Al-Isma'eliah, said the Egyptian minister.
Hilmi and his accompanying delegation visited the headquarters of the Saudi Communication and Information Technology Commission, where they met its Gov. Abdullah Al-Darrab and a number of its officials.
The visiting Egyptian delegation watched a power point presentation about the Kingdom’s telecommunications and its experience of liberalizing the sector and efforts in spreading information technology and telecommunication services in different parts of Saudi Arabia, including its remote areas.
The delegation also looked at the tasks of the computer emergency response team (CERT) and gave a similar presentation, showing the efforts of the Egyptian government in this field and discussing further cooperation with Saudi Arabia.
Saudi Arabia and Egypt signed a memorandum of understanding between the National Center for Digital Certification (NCDC), and the certification center in Egypt to exchange expertise and forge cooperation, in addition to issuing digital certificates in both countries. The agreement was signed by the ministers of communications on behalf of their countries.
According to Mulla, Saudi businessmen are looking for investment opportunities in other countries and are looking for relevant qualities to encourage them to make these investments, and noted that Egypt provides many of these opportunities. He expected Saudis to be the first to invest in Egypt.
Mulla said there are similarities between information technology activities in the various Arab countries, and cooperation can be forged in various matters, especially in connecting citizens.
Egypt offers 33 billion-pound investment opportunities to Saudis
