Egypt has seen substantial increases in foreign investments in the past several months, The Middle East reported.
Ne'mat Shafiq, vice president at the World Bank for Private Sector and Infrastructure Development Affairs was quoted by the weekly as saying that “another rise shall soon be seen in the information technology and communications sectors.”
Shafiq, who was recently in Egypt to participate in a World Bank-sponsored conference on refurbishing the information technology (IT) industry, stated that the Egyptian government had recently taken very encouraging steps regarding investments in both IT and communications.
The World Bank currently invests $1.5 billion annually in IT related ventures in developing nations, said the English paper, quoting agencies.
According the Middle East News Agency, the World Bank has expressed an interest in developing the IT and communications sectors in Egypt, in part because of its human resource base and diversified economy – Albawaba.com
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