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    GAFI Report: ICT the Highest in Attracting Foreign Investments and Offering Jobs

    Date published: 6 January 2008
    A recent report by the General Authority for Investment and Free Zones (GAFI) pointed out that the Information and Communications Technology (ICT) sector is a high-potential development bolster in Egypt, expected to attract further foreign investments and facilitate new job opportunities.
    The report identified a number of helping factors like: Egypt's distinguished location amidst the fiber optic lines crossing the Middle East, multi-lingual professional calibers and the availability of a high-quality, affordable technological infrastructure.
    The report referred to the boom in the telecommunications sector as a direct result of the Government's diverse initiatives.
    The number of internet users has grown by 600 per cent reaching 5.3 million in the years 2005 and 2006. ICT trainees have increased by 1300 per cent during the same period to become 23,001, the report stated.  
    According to the GAFI report, 970 companies were working on ICT in 2002. This figure increased by 77% to reach 1716 companies in 2005.
    The report further revealed that the figure of mobile phone users has increased from 2.9 million in 2001 and 2002 to 14 million in 2005 and 2006.
    There is a number of new investments available with high potentials, the report explained, on top of which are: international telecom services, value added services (VAS), telecom infrastructure and call centers.
    Meanwhile, Minister of Communications and Information Technology Dr. Tarek Kamel predicts that Egypt's exports of ICT services will reach LE 1,1 bn by 2010.

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