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    PM Nazif Inaugurates Financial District as Part of Smart Village Phase III

    Cairo, 15 January 2009

    Prime Minister Dr. Ahmed Nazif, accompanied by Minister of Communications and Information Technology Dr. Tarek Kamel, inaugurated today the first part of the Smart Village Financial District.

    The district was commenced in the presence of Minister of State for Administrative Development and Minister of Social Solidarity.

    The Financial District's inauguration came as part of commencing the third phase of the Smart Village where Premier Nazif inaugurated the premises of Commercial International Bank (CIB) and National Bank of Egypt at Building F22, the buildings Nokia, Siemens, the Chinese Huawei and the new headquarters of the Smart Village Company inside Building B19.

    Dr. Nazif also commenced the French Valeo Company, specialized in designing, producing and selling automobile components and modules, and MobiNil located inside Future Group Building. 

    During the inaugural ceremony, Dr. Nazif toured the premises of to tour the buildings of Vodafone Egypt and Etisalat Misr where he listened to detailed presentations on the technological activities of the two companies.

    Dr. Kamel pointed out that the new inaugurations came within the framework of finalizing the advanced infrastructure of the different phases of the Smart Village, the huge technology project including several Egyptian and international companies operating in ICT.

    These companies, he noted, have been pumping investments, establishing branches in the Smart Village to offer distinguished services to their clients worldwide.

    Dr. Kamel stated that more than 20,000 people work at the Smart Village, which has been entirely founded by Egyptian workers and companies specialized in the field.

    Meanwhile, Dr. Kamel confirmed that Ministry of Communications and Information Technology (MCIT) has set among its priorities for the upcoming stage the continuation of the information society development as well as boosting the IT industry and its exports.

    In 2005, Premier Nazif had laid the foundation stone of the Financial District where the four buildings of National Bank of Egypt, Commercial International Bank, Delta Company, Piraeus Bank and others were located.

    The second phase of the Financial District, expected to be finalized in 2010, will comprise the Egyptian Stock Market building, that of the Capital Market Authority and other financial institutions.

    About Smart Village
    Egyptís Smart Village provides a high tech environment and world-class professional convenience for IT and Telecom companies. The 450 - acres project is an example of Egyptís high tech infrastructure, economic incentive packages and commitment to the future. The Smart Village also offers 24/7 broadband fiber optic connectivity and uninterrupted power supply within the most ideal office space for conducting business activities.

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