In September 1999, President Mubarak announced the launch of a national program for technology development. In January 2000, the Cabinet approved a national plan for CIT and mandated the new Ministry of Communications and Information Technology to execute it.
Transforming ARENTO into Telecom Egypt by law 19 for the year 1998. Establishment of the Telecommunications Regulatory Authority by presidential decree number 101 for the year 1998. A new telecommunication law that promotes: Transparency in licensing. Phased deregulation of services. Establishment of a universal fund to accelerate tariff rebalance.
A high tech business park with “Smart” infrastructure, investor friendly services and investment incentives. 300 acres (20 minutes from downtown Cairo, 10 minutes from the great pyramids). 53 office plots (336 000 sq.m. of office space). Business center Conference center Exhibition center Press center Recreational facilities Health center Hotel Shopping and restaurants Developed and operated by private investors
Establishment of VC fund of 50 million L.E. Establishment of first incubator on 2500 m 2 fully equipped with required infrastructure. Provides technical, financial and administrative support for start-ups as well as small and medium IT enterprises.