Frost & Sullivan: Cairo needs $45bn investments to be ‘smart city’

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Investments of $45 million are needed to convert Cairo into a smart city, said Haritha Ramachandran, Industry Manager, Information and Communication Technologies Frost & Sullivan on Monday.

Frost & Sullivan is a consulting firm which provides market research and analysis, growth strategy consulting, and corporate training services across multiple industries.

In order to receive those investments, Egyptian government has to adopt a modern vision for the telecommunications sector, Ramachandran added. This would allure investors who are interested in expanding in emerging markets.

During her meeting in Cairo Monday with officials in the Egyptian Information, Telecommunications, Electronics, and Software Alliance (EITESAL), Ramachandran said Cairo would contribute 57 percent to Egypt’s GDP by 2020.

Additionally, by 2020, Abu Dhabi and Dubai are expected to take up to 48 percent and 26 percent, respectively to the UAE’s GDP, compared to Tehran which is likely to contribute 26 percent to Iran’s GDP, Frost & Sullivan official added.