Egypt Independent

Communications Minister says ready for Economic Summit with large projects



In an interview with Al-Masry Al-Youm
, Communications Minister Atef Helmy said the ministry is offering many investment opportunities at the Economic Summit, starting with a series of large service projects.
 
He added that the ministry has completed a feasibility study of a factory for smart electricity meters. “Egypt needs 30 million smart meters,” he said. “This project costs from LE5 to LE7 billion.”
 
Q: What has the ministry prepared for the Economic Summit?
 
A: The ministry is ready to offer three giant investment projects. The first is for seven smart villages at an investment of LE15 billion over five years in several governorates. The second is for a factory for smart electricity meters at an investment of LE5 to LE7 billion, as Egypt needs 30 million smart meters. And the third is for the automation of 270 notary offices, of which we have completed 100 offices. This costs LE650 million.
 
Q: But these are service projects. Do you expect investors to be interested?
 
A: Service projects yield good returns. And citizens will not mind paying for a service as long as it is good.
 
 
Edited translation from Al-Masry Al-Youm