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Apple CEO Tim Cook Considers Investing in Egypt

Apple CEO Tim Cook Considers Investing in Egypt

Egypt’s Prime minister Mostafa Madbouly with Apple CEO Tim Cook in the meeting in Davos (Photo: Ministry of investment and international cooperation)

Egyptian Prime Minister Mostafa Madbouly discussed on Tuesday with Apple CEO Tim Cook the chances for the giant tech company to make direct investments in Egypt, according to a statement by the Ministry of Investment and International Cooperation.

On the sidelines of the World Economic Forum, Apple CEO Tim Cook expressed the company’s interest in investing in Egypt, and that the company is examining the map and possible areas of investment.

Cook added that there are 38,000 people from Egypt working in IOS apps development, and also welcomed cooperation with Egypt in the field of education and sharing Apple’s experience and successes in the field around the world.

Prime Minister Madbouly said that Egypt has a very ambitious plan to improve its education system, which includes providing 750,000 tablets yearly to high school students that Apple can benefit from by  providing these tablets.

Madbouly also highlighted the popularity of Apple products in the Egyptian market, and that the government is working on a plan to turn Egypt into a hub for electronic industries in the Middle East.

The Egyptian prime minister added that Apple can find investment opportunities in the New Administrative Capital, as well as in 14 other new cities being built across the country.

The meeting was attended by Egypt’s investment and international cooperation minister, the finance minister, and the trade and industry minister, as well as Egypt’s permanent envoy to the UN in Geneva Alaa Youssef.

 

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