Gov't investments in communications, information technology sector hit LE 22.8B

CAIRO - 7 June 2022: Government investments in the communications and information technology sector will rise  in the 2022-2023 fiscal year by 22 percent to about LE 22.8 billion, according to Minister of Communications and Information Technology, Amr Talaat.

 

Talaat added in a statement, Tuesday, that the communications and information technology sector has been the highest growing in Egypt for three consecutive years, with a growth rate of 16 percent.

 

This came during the opening speech of the Tech Invest exhibition and conference, organized by the General Division for Digital Economy and Technology of the General Federation of Chambers of Commerce, under the title "Support and Development of Investment in the Field of Information Technology" as part of the activities of the fourth session of the events.

 

He affirmed his full confidence in the Egyptian youth's ability to adapt technology to address the challenges facing Egyptian and regional society and achieve economic development.

 

The minister pointed out the keenness of the Ministry of Communications and Information Technology to prepare a base of digital human cadres in all ICT sciences through the technical training strategy that is implemented according to a hierarchical approach with investments of LE 1.1 billion to train 200,000 trainees during the current fiscal year, with an increase in the budget by about 22 times and an increase in the number of training by about 50 times compared to what it was three years ago.

 

He also referred to the ministry's efforts to encourage investment in emerging companies, as the volume of investments in startup companies in 2021 amounted to about $490 million, compared to $190 million in 2020.

 

The efforts will also include a research and development center that includes laboratories on the latest international technologies to implement applied projects in important fields such as smart agriculture and health services, in addition to the Misr Informatics University, which is the first university specialized in communication sciences and information technology in the Middle East and Africa.

 

 

Amr Talaat added that Egypt leads the African countries in average fixed internet speed; He explained the efforts made to strengthen the information infrastructure and lay fiber-optic cables in the villages of the first phase of the Good Life initiative, at an investment cost of LE 5.8 billion.

 

He noted the introduction of frequency bands for mobile operators, in addition to working to increase the number of towers and mobile stations; emphasizing the important role of Egypt Post as an outlet for providing digital government services through branches throughout the Republic.

 

“A plan is being implemented to develop the post in terms of form, mechanization of all work, and the provision of new packages of postal services such as Waslha service to stimulate electronic commerce and a mobile application "yalla",” he pointed out.

 

He noted the ministry's keenness to strengthen the international information infrastructure, especially since more than 90 percent of data coming from east to west pass through Egyptian territorial waters and lands through the international cable network.