Egypt's communications and information technology minister on Wednesday said it is difficult to predict how his sector will perform in the second half of 2011, but that he is generally optimistic.
In statements to the press Wednesday, Maged Othman said he is optimistic because production is resuming across the nation, adding that he expects the sector to grow threefold over the next two years.
Othman said he intends to visit the US at the end of June to reassure investors of Egypt’s security situation and its continued support for foreign investment.
Yasser al-Qady, chief executive officer of the Information Technology Industry Development Agency (ITIDA), which is affiliated with the Telecommunications Ministry, also said he intends to visit international companies in the US.
“We want to tell them that Egypt is safe and so are the economy and investments,” he went on. “None of the foreign investments in this sector have been harmed over the recent period.”
Investors’ response to recent developments in Egypt have varied, while some have gone ahead with their projects, others are being slightly more cautious.
Translated from the Arabic Edition
