16% growth rate of the IT sector

Dr. Amr Talaat, Minister of Communications and Information Technology, stressed that the growing investment in the ICT sector has become a necessity to build digital societies around the world. He explained that total IT spending worldwide is expected to reach $ 4.5 trillion by the end of 2022, an increase of 5% over 2021; He stressed that within the framework of building a digital Egypt, government investment in the communications and information technology sector in the fiscal year 2022/2023 will amount to around £ 22.8 billion, with a growth rate of 22%; It confirms that the Egyptian state believes in increasingly directing investments to bring about the transformation into an integrated digital society; This points to the rise in the ICT sector indicators, which is the highest growth in Egypt for 3 consecutive years, with a growth rate of 16%.

It came during Dr. Amr Talaat’s speech at the opening session entitled “Support and development of investment in the field of information technology”, as part of the activities of the fourth session of the “Tech Invest” exhibition and conference, organized by the General Division of Digital Economics and Technology of the General Federation of Chambers of Commerce.

attended the opening; ing. Atef Helmy, former Minister of Communications and Information Technology, ing. Khaled Negm, former Minister of Communications and Information Technology, ing. Khalil Hassan Khalil, Head of the General Division for Digital Economy and Technology at the General Federation of Chambers of Commerce, Dr Alaa Ezz, Secretary-General of the General Federation of Chambers of Commerce, and Engineer Ibrahim El Araby, President of the General Federation of Chambers business and a number of leaders in the communications and information technology sector, in addition to an elite group of the banking sector and investors.

Dr. Amr Talaat also expressed his full confidence in the ability of Egyptian youth to adapt technology to address the challenges facing Egyptian and regional society and bring about economic development. He highlighted the zeal of the Ministry of Communications and Information Technology to prepare a base of digital human frameworks in all ICT sciences through a technical training strategy implemented according to a hierarchical approach with investments of 1.1 billion pounds to train 200,000 pupils during the current fiscal year, with an increase in the budget by 22 times and an increase in training preparation almost 50 times as much as it was 3 years ago; He pointed to the ministry’s efforts to encourage investment in start-ups, as the volume of investment in start-ups in 2021 was about $ 490 million, compared to $ 190 million in 2020.

Dr. Amr Talaat explained that the first phase of the Knowledge City in the New Administrative Capital includes a center for creativity, research and development specialized in electronic design, which will include a large group of companies working in this field, as well as’ a research and development center that includes laboratories on the latest international technologies to implement applied projects in key areas such as agriculture. The city also includes a center for innovation in assistive technologies, in addition to a training center and an incubator for beginners within the plan to distribute Egypt’s digital innovation centers in the governorates, which will Through it the implementation of many activities, including the establishment of forums for networking between young people and investors.

Dr. Amr Talaat added that Egypt leads the African countries in the average fixed internet speed; He explained the efforts made to strengthen the information infrastructure and lay fiber optic cables in the towns of the first phase of the Good Life initiative, at an investment cost of LE 5.8 billion. Frequency bands were also offered to mobile operators, in addition to increasing the number of towers and mobile stations.

He stressed the important role of Egypt Post as an outlet for the provision of digital government services through branches spread throughout the Republic; And that a plan be implemented to develop the post in terms of form and automation of all business and to provide new packages of postal services like Waslha service to stimulate e-commerce and a mobile application “yalla”; He noted the ministry’s zeal to strengthen the international information infrastructure, especially as more than 90% of data coming from east to west passes through Egyptian territorial waters and ends up through the international cable network.

It is noteworthy that the “4 Tech Invest” conference and exhibition will be held this year under the slogan “The Fourth Conference to Support and Develop Investment in Information Technology”, with the participation of about 300 technology companies, more than 700 specialists of the communication and information technology sector, a number of entrepreneurs, investment funds and division heads in The various governorates of the Republic, and the forum includes more than 100 investors and 50 incubators and business accelerators.

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