ICT sector imports LE 94.6B to Egypt’s treasury in 2016/17

CAIRO – 17 April 2018: Information and communication technologies (ICT) sector imported around LE 94.6 billion ($5.34 billion) to Egypt’s treasury in 2016/2017, according to Secretary General of the Federation of Administrative Development Associations Nabil al Bishbishy.

Bishbshy added that the exports’ volume of the telecommunication sector recorded $3.2 billion.

This came on the sidelines of the conference of the management of the communications system, in the presence of Minister of Communications Yasser al Kadi and Head of the Federation of Administrative Development Associations Safwat al Nahas.

The conference discussed a number of important issues and themes of the ICT sector, including a presentation on the current Egyptian communications system and the future of the sector, in addition to the status of the information technology industry in Egypt and the strategy of the electronics industry.

Minister of Telecommunications Kady said that the ICT recorded the highest growth rate among all sectors in Egypt.

Kady added that there are two under construction laboratories in the technological area in Sadat City which target to adopt the quality of technological devices.

He clarified that there are incentives to attract international manufacturing companies to invest in Egypt, adding that there are other incentives targeting the investors that state that 80 percent of their capital will be returned to them.

The growth rate of ICT rate reached 12.5 percent, and participates with 3.5 percent in the gross domestic product (GDP).