Egypt plans for technology sector development

Egyptian Minister of Telecommunications and Information Ahmed Nazif said Egypt will provide exemptions to customs duties and taxes to exporters of computer programs as part of a plan for technological development.

"In line with Egypt's national program for technological renaissance, the government will chalk out a new plan to develop the information and telecommunications sector via issuing a number of commercial, financial and legal legislation that would qualify Egypt to be one of the most important information technology centers in the world," Nazif said.

He added that the government plans to establish technological centers in new industrial cities and install needed equipment.

There will also be a new law for the protection of intellectual property and opportunities for international companies to set up joint investments in Egypt to advance information technology exports, Nazif said.

He also said that shares of the Egyptian Telecommunications Company will be sold to the public after a preliminary financial evaluation and that plans are being drawn up for the Technology Valley Project in the governorate of Ismailia.