Egypt to set up technology center

The Egyptian Cabinet yesterday approved a presidential decree which calls for setting up a center for the "transfer, development and settlement of technology," Minister of Information Safwat El-Sherif said.

Prime Minister Kamal El-Ganzouri, who presided over the meeting, said that major national projects need a mechanism to help push them forward. He added that the areas will be responsible for drawing up, executing and following up on plans for the center's development, as well as for overcoming problems faced by investors.

Sharif said the Cabinet also discussed a Ministry of Industry report on turning the Abu Tartour phosphate project into an industrial zone. He said that the Cabinet reviewed a memorandum of understanding reached with an American Italian and Egyptian company with a concession period of 50 years.