CAIRO: Minister of Communication and Information Technology (CIT) Atef Helmy broke ground for a new smart village, in Upper Egypt’s Asyut Wednesday, with an investment cost worth 4 billion EGP ($574.7 million).
The planned technological investment hub will be built on 120 acres, as part of a CIT strategy to establish a number of technological parks in governorates, Helmy said on the sideline of a press conference to sign a cooperation protocol with Ministry of Foreign Affairs Tuesday.
“CIT intends to inject 4 billion EGP investments in Asyut project while being implemented within five years,” said Helmy while laying the foundation stone along with Asyut governor Ibrahim Hammad, Youm7 reported.
The Asyut project comes in light of the government’s plan to give priority to Upper Egypt and establish five technology complexes outside the capital including three in Upper Egyptian Governorates; Asyut, Aswan and Beni Suif, in addition to Alexandria and Sadat with a total investment up to 23 billion EGP, Helmy added.
“These projects are expected to provide hundreds of thousands jobs for Egyptians,” Helmy added.
The minister further explained that these investment complexes are aimed to promote Egypt’s potential in communications and information technology services, outsourcing, the electronics industry, research and innovation.
Deputy Head of the Scientific Society of Telecom Engineering (SSTE) Talaat Omar welcomed the CIT strategy to expand investments outside Cairo, especially in Upper Egypt’s Asyut.
CIT should have adopted legislation that stimulates, protects and guarantees such investments and the society as well, Omar told The Cairo Post via phone.
“The government must initiate new development projects and investments in Upper Egypt. Otherwise these tech parks will be useless,” Omar said.
Cairo’s Smart Village in the 6 October City is considered the biggest technological administrative complexes in Egypt, bringing together a large number of local and international businesses in various sectors as well as the key telecommunication corporate in Egypt and the region.
Additional reporting by Heba el-Sayed and Doha Saleh