Egypt’s fixed-line monopoly Telecom Egypt (TE) is planning within days to launch its first subsidiary in Asia, to be in Singapore.
Osama Yassin – CEO and Managing Director of Telecom Egypt – told Amwal Al Ghad Wednesday his company is currently working on the completion of all the procedures to launch TE Singapore, which will represent a marketing and service channel for the Asian continent.
TE Singapore is set to boost Telecom Egypt’s volume of investments in field of the international services, and data transfer through marine cables.
The Singaporean subsidiary will basically serve the Asia region and support Telecom Egypt’s strategy towards maximizing the benefit of data traffic transferred internationally through submarine cables, Yassin noted.
Furthermore, Yassin announced that Telecom Egypt has obtained the regulatory approvals from the Singaporean telecoms regulator, the Infocomm Development Authority of Singapore (IDA), so as to launch its TE Singapore.
The Singapore branch will be an addition to Telecom Egypt’s another affiliate, located in France, TE France, which was established many years ago to manage TE North submarine cable in France.
The TE North cable, built in collaboration with Alcatel-Lucent, is a 40G undersea cable that connects Abu Talat, Egypt, to Marseille, France, with branches to Jordan, Cyprus and branching units to be used for further expansion. It began operation in mid-2011.
Last week, President Abdel Fattah al-Sisi started an Asian tour, visiting, Indonesia, China, and Singapore; the latter marks the first visit of an Egyptian president to Jakarta since 1983.
