Hong Kong is due to host the Euromoney Egypt Investor Conference on March 2nd, 2010. A high-level Egyptian delegation led by Minister of Communications and Information Technology Dr. Tarek Kamel and Minister of Investment Dr. Mahmoud Mohie Eddin will participate in the meeting.
General Authority for Investment and Free Zones (GAFI) will organize the conference in cooperation with Euromoney.
The conference is expected to discuss Egypt's promising potentials and opportunities and figure out means of collaboration with Asian countries. It will, additionally, highlight Egypt as an international destination for direct and institutional investments in several areas including information and communication technology (ICT).
Egypt possesses all investment requirements at low cost and high efficiency, which enables investors to re-export products, realizing economic advantages. In addition, investors can make use of the Egyptian local market that has been developing recently in the field.
Several other advantages that are quite beneficial to Asian investors are available in Egypt. Asian markets seek to invest in Egypt to benefit from the constant economic development and the relative stability of the Egyptian market.
Dr. Kamel is scheduled to give a speech in the conference opening session, showcasing the Egyptian experience in developing the ICT sector and its success in realizing international rates over the past years.
Moreover, Minister Kamel will present the investment opportunities the Egyptian government facilitates in several ICT-related fields, especially in technological innovation and creativity. This is the major field that Ministry of Communications and Information Technology (MCIT) will focus on as it carries out its mechanisms in Egypt throughout the coming period. The MCIT cooperates with the private sector and civil society organizations in implementing its strategy.
In his speech, Dr. Kamel will provide data about the investment opportunities Egypt offers in business process outsourcing (BPO). Egypt has achieved tremendous success in the field, occupying the fifth position internationally.
Numerous international reports highlighted Egypt as a remarkable destination for BPO, which led mega companies to export their services from Egypt and establish innovation centers in the country. Economic and social stability are major pillars for the success of such industry in Egypt.
The annual Euromoney event, which has taken place in London for the past five years, is shifting focus this year to the Far East in light of Asia's growing interests in Egypt.
In another development, Dr. Kamel will visit Cyberport project in Hong Kong. Cyberport helps commercialize creative ideas and incubate start-ups. The project works on gathering ICT companies in order to establish a digital city turning Hong Kong into an IT hub in the continent.
Separately, Dr. Kamel will visit Octopus, one of the leading smart card payment systems. He will also visit PCCW Limited, Hong Kong's premier telecommunications provider and a world-class player in ICT.
In other news, Dr. Mohie Eddin and Dr. Kamel will fly to Singapore to attend a conference entitled: "Egypt… a Destination for Direct Investment".
The conference will be held following an initiative by Ministry of Investment and CI Bank, a Commercial International Bank (CIB) branch. It will be organized by Singapore cooperatively with DBS Bank and Singapore Businessmen Association.
The conference aims at promoting Egypt as a destination for direct investment as well as attracting Singaporean investments, especially in the ICT field.
The Egyptian delegation is expected to introduce to the Singaporean part the benefits of investing in Egypt, mainly in the area of technology parks.
Another purpose of the conference is to create a communication channel with the Asia-Pacific region, specifically Singapore.
In a separate development, Dr. Kamel and his accompanying delegation will visit the Infocomm Development Authority of Singapore (IDA).
IDA cultivates a vibrant and competitive industry on the international level, attracting foreign investment and sustaining long-term GDP growth through innovative infocomm technology development, deployment and usage in Singapore. Such activities help enhance the global economic competitiveness of Singapore.
During his business trip to Singapore, Dr. Kamel will hold a meeting with the Chairman of CrimsonLogic and its board. CrimsonLogic is a trusted partner to governments worldwide.
CrimsonLogic has continued to set industry-standards by delivering world-first eGovernment solutions to optimize workflow, raise operational efficiency and improve decision-making. The company has contributed to forming the Pan Asian e-Commerce Alliance (PAA).
Finally, Minister Kamel will meet the board members of Singapore Infocomm Technology Federation (SiTF), Singapore’s premier infocomm industry association that brings together 400 corporate members from MNCs and local companies.
The main charter of the federation is to assist its members in business development, market intelligence, overseas trade missions, networking and alliances.
During the meeting, Dr. Kamel will witness the announcement of the Egyptian-Singaporean Business and IT Forum.
Meanwhile, Dr. Kamel is scheduled to witness the signing of a cooperation agreement between Information Technology Industry Development Agency (ITIDA) and SiTF.
The deal entails trade representation activities for small and medium sized companies in the two countries, the creation of new, distinguished job opportunities in business development, IT products and service provision and training. The two parties are expected to discuss SiTF's wish to have a presence in the Smart Village.
ITIDA Executive Vice President Dr. Sherif Hashim and SiTF Chairman Ms. Kan Yen Yen will sign the agreement.
The deal reflects the desire of both countries to exchange expertise and partnership in organizing international ICT exhibitions and conferences.
Another agreement will be signed in the presence of Dr. Kamel between Egypt Post and SingPost. The deal aims to improve traditional postal services and develop new, innovative valued added ones. Such a goal can be achieved through information and experience exchange between the two countries, conforming to international standards that can eventually realize customer satisfaction in Egypt and Singapore.
Amongst the key areas of collaboration based on the agreement are a system for management of postal traffic, e-commerce applications and epost.
Dr. Sherif Batisha, Vice Chairman of Egyptian National Post Organization, and Executive Vice President of SingaPost Mr. Ng Hin Lee will ink the contract.
The Egyptian visit to Singapore is a continuation of another conducted in 2008. It complements the efforts exerted to enhance bilateral cooperation in ICT.
Moreover, the visit goes in line with the MCIT strategy of boosting collaboration between Egypt and Far Eastern countries in ICT in the coming phase.
In addition to the two ministers, the Egyptian high-level official delegation will comprise ICT leaders and representative from ITIDA, the Smart Village Company and Egypt Post as well as a trade mission of Egyptian ICT companies and civil society organizations.
