TechVenture Africa: MENAFN - Middle East North Africa . Financial Network News: Venture Capital Fund to Help Create Sustainable Growth

MENAFN - Middle East North Africa . Financial Network News: Venture Capital Fund to Help Create Sustainable Growth: "Dr. Adnan Soufi

Last month's announcement that Intel will take active role in the growth of the information and communication technology (ICT) in the Middle East with the establishment of a $50 million venture capital fund to invest in technology companies developing innovative hardware, software and services in the region covering the Middle East and Turkey, represents a significant milestone in helping create sustainable growth, development and competitiveness of the region. This fund will be in addition to an independent $100 million venture capital investment company to invest in technology companies located in, or having a connection with, Saudi Arabia, which is to be established by Intel Capital and the Saudi Arabian General Investment Authority (SAGIA). "

Intel Chairman Craig Barrett on the U.N. and Silicon Valley

"Silicon Valley IT companies are in the right place at the right time to help the United Nations address the world's health, education, and economic problems. Barrett, who has been appointed the chairman of the U.N.'s Global Alliance for ICT and Development, says, "My job is to make sure that we don't talk a lot, but we do a lot." The Alliance will meet today at the the Computer History Museum in Mountain View, Calif., to discuss the role of Silicon Valley in the U.N.'s information technology goals.

Intel's chairman at the company's headquarters in Santa Clara. February 28th, 2007 12:01 am

IFC Executive Vice President Lars Thunell

"The investment climate remains a major challenge on Sub- aharan Africa's path to a better future. African businesses currently face one of the world's highest levels of regulatory obstacles to Entrepreneurs. Africa has also been one of the world's slowest regions to reform its investment climate. Private investors need the right environment to operate. Transparent, robust institutions and an efficient and clear business regulatory environment are also needed to establish the conditions necessary for growth."

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MENAFN - Middle East North Africa . Financial Network News: Venture Capital Fund to Help Create Sustainable Growth

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