Five major IT companies to set up home in Egypt

Five major American companies working in the field of information technology will set up premises in the Egyptian Smart Village, it was announced on Tuesday Egyptian Communications and IT Minister Ahmed Nazif said the five companies include Microsoft, Compaq, and Oracle, reflecting increasing interest in IT and communications in Egypt.

The existence of those companies in the Egyptian market will provide a new framework to apply IT, transfer technology, present a new model for investment in Egypt's technological areas, create new qualified cadres, provide technological incubators for emerging companies and compose an advanced infrastructure for super highway networks, Nazif said.

A smart village company was built in Egypt last year with the contribution of businessmen at a capital of LE 100 million, the Minister said.

There are designs for such villages already made near Cairo at the beginning of the Cairo-Alexandria desert road, he added.