Egypt invests EGP 50 billion in digital transformation projects – minister

Egypt witness a surge in digital transformation field through the implementation of a large number of national projects with investments of up to 50 billion Egyptian pounds, said the Minister of Communications and Information Technology, Amr Talaat.

Speaking at the Egyptian Economy Conference (EEC 2022), Talaat mentioned the strategies that maxmise digital value including, digital transformation, outsourcing and entrepreneurship.

Talaat pointed out an increase in the ICT sector’s budget in the current fiscal year by 22.6 percent, which grew by 16.3 percent making the highest growing sector in Egypt’s business market.

He added the number of trainees has doubled over the past years to reach the target of 225,000 trainees with a budget of 1.3 billion pounds in the current fiscal year, compared to 4,000 trainees with a budget of 50 million pounds in 2018/2019.

The ministry’s plan has been launched to increase technology innovation centres from 3 to 30 through spreading many centres in all governorates with a total investment of up to 4.2 billion Egyptian pounds.

The ministry has opened eight centres in the first phase and now the work is under way to establish 12 centres in the second phase next year, while seven centres should be opened in the third phase by 2024.

Talaat further added the foreign investments in start-ups operating in ICT sector doubled from $190 million in 2020 to $490 million in 2021.