Minister: Russian companies encouraged to invest in Egypt

CAIRO - 20 March 2019: Minister of Information and Communication Technology Amr Talaat has stressed the importance of offering all kinds of facilities to Russian companies to invest in Egypt.

Talaat and Russian Minister of Digital Development, Communications and Mass Media Konstantin Noskov presided over on Wednesday a forum to boost cooperation and explore chances of partnership between Russian companies and their Egyptian counterparts in the communication and information technology sector.

Talaat said in a statement that an agreement was reached with his Russian counterpart to offer facilities and logistic support to encourage Russian companies to invest in Egypt.

For his part, the Russian minister expressed his country's readiness to contribute to carrying out the proposed projects as the minister, along with minister Talaat, listened to the representatives of the companies about investment opportunities.

The forum was attended by representatives of more than 15 Russian companies and about 30 Egyptian companies to exchange viewpoints on means of boosting trade exchange. Russian Ambassador to Egypt Sergei Kiribchenko was also present.

On Tuesday, Talaat reviewed Egypt's ICT strategy which is based on two axes; achieving the digital transformation in cooperation with the state's institutions and building the Egyptian human being, according to a statement by the Communications Ministry on Tuesday.

The minister stressed the importance of cooperation with Russia in the fields of cyber-security, data science, and artificial intelligence, adding that he had agreed with his Russian counterpart to visit Moscow to get acquainted with Russia's ICT projects.