afrol News, 8 December - A new district in Egypt's "Smart Village" is about to open. This new part of the national technology hub is mainly dedicated to the banking sector.

Egypt's Prime Minister Ahmed Nazif is to open the first part of Al-Mally district in the Smart Village next month, included in the third phase of the village, which compromise a number of international and Egyptian companies, as well as small and medium enterprises.

President Hosni Mubarak inaugurated the first phase of the village in September 2003. The Egypt Smart Village focuses on technological activities in the field of communications and information technologies.

PM Nazif has laid the foundation stone of the establishment of the Al-Mally district in the Smart village in 2005. There are four buildings which have been already established at the first stage of this district, including the buildings of the National Bank of Egypt (NBE), the Commercial International Bank (CIB), Delta Company and Piraeus Bank.

It was planned to include the Egyptian Stock Exchange, the Capital Market Authority, and some other financial institutions in the second part of Al-Mally district and it is decided to finalise this section in 2010.

Communications and Information Technology Minister Tarek Kamel said that the new openings came "in the framework of modern infrastructure of the smart village project, a giant technological project, which includes many Egyptian and global companies."

Cairo's Smart Village is only the first of several high-tech parks that will be located in cities all over Egypt. The Smart Villages are part of an initiative to create technology districts all over Egypt.

By staff writer

© afrol News

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