Egypt’s ICT Ministry to Pump EGP80bn in Manufacturing Electronics by 2020

Egyptian Information and communication Technology Minister Atef Helmy said the Electronics manufacturing axis comes within the ministry’s most prominent axes, noting that there are investments worth EGP80 billion which will be pumped by 2020.

The Minister added in a key note speech at Cairo ICT Conference today that the telecommunication sector has the ability to restore the growth rates again. He noted that the next period will witness a great transition in digital economy and which will help in doubling the proportion of the sector’s contribution in GDP to up EGP66 billion by the end of 2014/2015 along with EGP195 billion by 2020, with 18% growth rates.

The upcoming period will witness the attraction of new foreign investments through granting stimulus package to encourage investments inside the Egyptian market.