Construction in 10th of Ramadan City technological zones is due to begin at the end of this year, said vice president of the Information Technology Industry Development Agency (ITIDA) Ahmed El-Sobky.
The construction of technological zones in Borg Al-Arab city and Assiut are steadily ongoing. He expects the Ministry of Communications and Information Technology to complete 21 buildings within five months.
The ministry aims to establish technological zones across the republic, making them an integrated working environment for communication and information technology companies, by developing the infrastructure and linking the companies to internet services via fibre optics. Companies in the technological zones will also rely on renewable and new energy for electricity.
The new technological zones will include companies of all sizes, as well as business complexes for start-ups, entrepreneurs, and incubators.
El-Sobky said the new technological zones will help re-guide migration to governorates other than to Cairo, highlighting the Delta, the Suez Canal region, and Upper Egypt.
The government has launched a specialised company named Silicon Oasis to contribute to investment in technological zones with 12-15% of all investments planned for the zones. These buildings are in the pilot stages, paving the way for the private sector to invest in six new technological zones.
Each zone will rely on one type of investment, depending on the resources of the governorate. The ministry plans to establish a total of 60 technological zones across all governorates over the next 10 years.
The demand for buildings offered in the technological zones, which are under construction in Assiut and Borg Al-Arab, reached 50% even though they have not yet been completed.