Egypt - US Information Industry Partnership
Egypt-USA, Business, 3/30/2000

US Vice President Al Gore, during his meeting with President Mubarak, said" he is personally interested in transferring the American technology to Egypt".

"Al Gore voiced satisfaction as Egypt embarked on carrying out the liberalization of communications sector," said Ahmed Nazif, Minister of Communications.

The Egyptian Information Technology company and the US Lucent company signed an agreement on partnership in information industry and the establishment of a production base for technology in Egypt.

The agreement, which was signed under the auspices of Minister of Communications Ahmed Nazif, stipulates the manufacturing of program bunches necessary for the equipment and communication networks with the aim of catering for the needs of Egypt and the Middle East.

The agreement covers technology of design installation, management and finance and the first stage of the project costs $ 200 million.

Nazif said the project complements the national plan and helps develop the national industry and establishment of modern telecommunications networks.

Nazif said he submitted to Mubarak and Al Gore general outlines of the plan to develop info-technology and telecommunications in Egypt and the steps being taken to liberate services offered by the Egypt Telecomm Company (ETC).

"Mubarak and Al Gore discussed the electronic-trade system and the effect of this on expanding trade markets," said Nazif.

Nazif and Egyptian-American Presidents' Council Spokesman Gamal Mubarak visited the IBM company.

The company's Vice President Christopher Macains briefed his guests over the training programs of advanced technology.

Nazif and Gamal Mubarak expressed their interest in the introduction of this technology in Egypt to develop the bureaucratic performance and public services.

President Hosni Mubarak and Vice President Al Gore earlier Tuesday attended the signing ceremony of a cooperation agreement between the Egyptian Ministry of Communications and IBM.

Under the deal, IBM will offer an extensive five-year program for training 3,000 graduates annually on the latest hi-tech in information and software. Trainees will be awarded IBM certificates.

The agreement was signed by Nazif and the Vice President of IBM. It also stipulated that the top 300 trainees will receive a six-month training at one of the firm's labs.

Moreover, the American Lazard group, one of the major US investment conglomerates, has established a $ 100-million-capital fund to finance technological projects in Egypt.

The enterprise, named "Venture Capital Fund", will support telecommunications and info-tech and the group will collect 75% of its capital from non-Egyptian partners, Lazard group is investing in $ 75 billion worldwide, an Egyptian statement said

Previous Stories:
  Mubarak addresses message to American people via Internet   (3/29/2000)
  Address by First Lady Clinton at American University in Cairo   (3/28/2000)
  US partnership progam grows   (3/27/2000)

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