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Egypt seeks USD 5-6 bln in broadband investment [New Vision (Uganda)](New Vision (Uganda) Via Acquire Media NewsEdge) Egypt is seeking investment of USD 5-6 billion to build broadband internet across the nation and some USD 3 billion more to build seven technology parks it hopes will lure multinationals and provide employment, Reuters reported. The funds will help the North African nation upgrade its telecommunications infrastructure as part of efforts to attract multinationals and restore growth after three years of political upheaval, ICT minister Atef Helmy said. Helmy said some of these opportunities will be presented at an economic summit aimed at encouraging investment in Egypt that will be held in February 2015. Helmy said there is no doubt that the telecoms and technology sector is one of the most competitive sectors when it comes to investment. Helmy said Egypt had managed to retain big multinationals despite the recent turbulence. The Smart Village, a technology park outside the capital, is home to the offices of major international firms as well as the Communications and Information Technology Ministry, a testament to the kind of Egypt Helmy wants to build. COPYRIGHT (c) 2014 NEWVISION. ALL RIGHTS RESERVED. Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |