Premier reviews plans to up software exports

Egypt's Prime Minister, Dr. Atef Ebeid met on Wednesday with Minister of Communications and Information Technology, Ahmad Nazif to review plans to increase the volume of Egyptian exports of software.

Nazif said that last year four agreements were concluded between Egypt and international companies with the aim of upping revenues of software to $ 100 Million annually.

He said that contracts signed in this respect will secure transfer of these revenues to the Egyptian banks to support the forex market.

The Minister added that 50 companies operate in Egypt at present as branches of international companies. This is a new activity which joined the Egyptian market.

These companies realized profits totaled $ 50 Million in 2001 to rise to $ 300 Million in 2003 in sectors of software and communications.

Nazif added that Egypt-European Union Partnership agreement contributes to providing technical aid to the Egyptian information technology sector to enjoy high quality and ability to compete on the international markets.