ICT is Egypt’s second largest growing economic sector: minister

Communications and information technology industry is the second biggest economic sector in Egypt, the country’s communications minister Yasser El-Kady said on Tuesday.

Communications sector has lately witnessed many achievements given that the current political leadership pays great concern for the sector, which represents now a backbone of the country’s development, El-Kady added.

According to the American market research International Data Corporation (IDC), Egyptian communications and IT industry is expected to achieve a growth rate of $8.9 billion in 2016 and $10 billion in 2019. This rise is attributed to increased expenditures on IT services and software that will enjoy compound annual growth rates of 9 percent during the year of 2019.