Egypt’s IT Sector Needs EGP116 bln Investments in 5 Years: Minister

Eng. Atef Helmy, Egyptian Information and Communication Technology (ICT) Minister has revealed that the volume of required investments in the sector are around EGP116 billion.

The Minister added in a keynote speech at Gulf-Egyptian Investment Formula that these investments are distributing over EGP4-45 billion to spread broadband infrastructure for two phases the first with EGP17 billion and the second with EGP28 billion investments.

He added that the Ministry is planning to cooperate with the Arab and Egyptian investors in order to launch 5 fresh technological zones with EGP24 billion across governorates, asserting that Cairo Contact centers in Park-Maadi is needing EGP3 billion investments.

He noted that localizing of the IT and putting integrated framework for industry need EGP4 billion, noting that shifting from traditional broadcast ‘analog’ to digital broadcasting requires EGP3 billion investment.

Furthermore Helmy illustrated that spreading the digital content and shifting to Arab electronic content services require EGP18 billion investments.