Egypt pumps investments exceeding LE 50B in ICT sector during 3 years

CAIRO – 12 July 2020: The diversity of the Egyptian economy contributed to overcoming the coronaviruscrisis, Minister of Planning and Economic Development Hala Al-Saeed, said Sunday.

Al-Saeed said, during the opening of national projects in the presence of President Abdel-Fatah El-Sisi, that 300 percent-large investments exceeding LE 50 billion, have been pumped into the information and communication technology (ICT) sector, during the past 3 years. 

“The state benefited from these investments in the system of education and distance learning, meetings, and government services through its mechanization, and investment in information infrastructure,” She stated.

She pointed out that 245 percent of investments had been pumped into the agriculture and irrigation sector and lining the canals, with a 30 percent increase in sustainability projects such as solar energy, etc., in addition to the importance of localizing the national industry.

Saeed emphasized the importance of taking advantage of global supply chains to work in the Egyptian economy, such as the train and vehicle industries, with an increase of 100 percent in the transportation, construction and construction sectors, especially because they are labor-intensive.

She stated that there are special studies to discuss consumer preferences, through experts and specialists, through an initiative to stimulate private consumption and support the local product.

“We are talking about an initiative with a commodity volume of LE 100 billion,” She added, noting than supply cardholders, which are bout 64 million citizens, benefit from this initiative. 

President Abdel Fattah El-Sisi inaugurated on Sunday a number of national megaprojects, including the Al-Asmarat 3 housing project in Cairo's Mokattam district, which was established to house residents of slums.

Egypt's President Sisi inaugurates number of national development projects

CAIRO - 12 July 2020: President Abdel Fattah El-Sisi inaugurated on Sunday a number of national megaprojects, including the Al-Asmarat 3 housing project in Cairo's Mokattam district, which was established to house residents of slums. The inauguration ceremonies are attended by Prime Minister Moustafa Madbouli, Parliament Speaker Ali Abdel Aal and a number of ministers.