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Etisalat Egypt plans to pump investment worth LE4.5B in 2020



Etisalat Egypt plans to pump investment worth LE4.5B in 2020
Etisalat Egypt plans to pump investment worth LE4.5B in 2020

CEO of Etisalat in Egypt Hazem Metwally announced that the telecom operator plans to inject new investments worth EGP 4.5 billion in 2020, with a view to developing mobile phone networks and enhancing services offered to clients.

Metwally’s announcement came during his meeting on Sunday with Executive Director of the General Authority for Investment and Free Zones (GAFI) Mohamed Abd El-Wahab to discuss the company’s future plans for expansion in the Egyptian market.

He went on to say that Etisalat Misr also aims to invest in the data transmission sector, as well as future technologies such as the Internet of Things (IOT) and artificial intelligence.

Metwally explained that the telecom operator has been investing in Egypt since 2007, with total investments of EGP 50 billion.

On his part, Abdel Wahab said that GAFI is keen on boosting cooperation with Etisalat Misr during the coming period and providing all support for the company’s future investment plans.

The GAFI head told Metwally that work is underway to implement all necessary reforms to encourage investors to increase their presence in the Egyptian market.

Culled from Egypttoday


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