Egyptian Economic Performance(21/6/2007)   A.   Egypt and Canada signed three agreements in the field of Technology: 1-     During the visit of the delegation from the Egyptian Canadian Council presided by Minister of Communications and Information Technology to Canada,  three agreements were signed in the fields communication, information technology  and human resources . 2-     The first agreement included the establishment of communication, television and radio networks. The second agreement embraced the establishment of a council for technology enhancement, which would offer its services to the Arab region and provide 100 work opportunity within 18 months. For the third agreement, it was signed in the National Council for Communication aiming at carrying out programs for human resources development and training in the field of telecommunication. 3-     Highlighting Egypt's capabilities and facilities in the field of telecommunication, the minister invited the Canadian telecommunication companies and Egyptian experts to invest in this promising field. H.E also assured Egypt’s role, as an essential partner, in the international dialogue for regulating the usage of the internet as well as safeguarding the freedom of cyberspace. 4-     H.E pointed out that the National Council for Communications and the National Council for Information Technology provide an annual training for 7000 youth to acquire communication and information technology skills.   B.   The Second Cairo Investment Forum: 1-     The General Authority for Investment and the Lebanese economic and business group are organizing the Second Cairo Investment Forum, which will be held in 9-10 December 2007. With the participation of 1500 Arab and local investor, the investment opportunities in Egypt will be designated to the investors. The forum will also discuss the new investment zones that are not only limited to the industrial activities but will include investment in agriculture, tourism and services sectors. 2-     The importance of this forum lies in displaying the improvements in the investment sector in Egypt and demonstrating the investment opportunities. The partnership between the private and public sector will also be illustrated. 3-     It is expected that the Gulf countries will participate in this forum as their investment are not limited to mortgage but became more diversified to include services in financial sector, agriculture, industry and transportation. 4-     The First Cairo Investment Forum, held last year and attended by 1300 participant representing 20 countries, highlighted Egypt’s experience in attracting more investments. This forum is a mean for investors to state the barriers and problems they face as well as exemplify the private-public partnership opportunities to carry out infrastructure and services projects.     C.   Diyar’s Investments in Egypt: 1-     According to our embassy in Qatar, the Qatari Diyar Company will establish two projects in Egypt. One of them is El-Cornish towers, with  a Qatari cultural touch, on east strip of the Nil, which will cost one billion dollar. 2-     The company is also planning to establish a tourist village in Mantazah area in Sharm El-Sheikh, which will include a hotel resort in addition to furnished apartments and entertainment facilities. 3-     Diyar company is considered as one of the pioneer companies in the mortgage investment sector, as its investments reached 33 billion Qatari Riyal in tourist and real state projects in 30 countries among them Egypt, Morocco, Syria and Oman.   D.   The Energy Sector: 1-     On the 14th of June, the Minister of Petroleum signed, on behalf of the Egyptian national authority for petroleum, an oil discovery agreement in Suez Gulf with the Egyptian PICO Company and the Kuwaiti Kofipik, where the Egyptian national authority was granted $400 million. 2-     The minister of petroleum stressed on the importance of signing such agreements to increase the national, arable and international investments in this field as well as meeting the demands of the local market. He also pointed out the benefits that the private Egyptian and Arab companies would gain from the increasing outcome rates resulting from the investments in oil discovery activities. 3-     He shed light on the importance of the involvement of the Arab and Egyptian private companies in investing in the oil sector taking into consideration the available investment opportunities in this sector. 4-     A memorandum of understanding was signed between Elwadi Algadid company for oil and minerals and an Indian investment group to establish a factory for phosphoric acid in new valley area, which will cost $550 million. The national authority for mineral wealth will provide the needed phosphors for the factory. The Egyptian Saudi bank will provide the Indian company with the needed finance.   E.   One Million Tourist Visited Egypt in April 2007: 1-     The number of tourists visiting Egypt in April 2007 reached one million and 31 thousand tourist, with a 12% increase compared to April 2006. The percentage of tourists from Europe reached 75.6% , 12% from Middle East, 3.6% from Africa, 2.9% from North America, and 2.8% from East Asia. 2-     The number of Arab tourists visiting Egypt reached 149 thousand in April 2007, with a 15.6% increase compared to April 2006, where Libya came first followed by Saudi Arabia, then Sudan, Jordan and Palestine in the number of Arab tourists visiting Egypt. 3-     The Arab tourists spent in Egypt 1.7 million nights, with an increase of 35.5% compared to April 2006, where the Libyan tourist was ranked first followed by Saudi Arabia then Sudan and Palestine. 4-     Worth mentioning, 9.1 million tourist visited Egypt in 2006 generating a revenue of 9 billion and 800 million dollars. The Egyptian tourist campaigns aims at raising the number of tourists to Egypt to reach 14 million by the year 2011.