INTERVIEW: Egypt ICT sector will witness 10% growth this year: minister

Egypt’s information technology and communications sector is likely to witness a 10 percent growth within 2016 despite the exceptional economic circumstances, the country’s communications minister said.

The sector has successively managed to attract direct foreign investments worth $1.1 billion in the current period, the country’s communications minister Yasser El-Kady said in an interview with Amwal Al Ghad.

The Egyptian minister added that telecoms market is more likely to experience a significant progress especially after the telecoms regulator, National Telecom Regulatory Authority (NTRA) had developed a set of regulatory frameworks for the country’s mobile operators.

El-Kady further referred to his ministry’s strategy to promote Egyptian electronics industry worldwide and the recent completion of the new technology park projects.

The minister also stated that Telecom Egypt will fully reserve its shares in Vodafone Egypt as a further step towards more effective, transparent, and equitable governance.

El-Kady further added that his ministry has undertaken a number of effective changes to SMEs support programme in favor of the industry of electronics. He also noted that SMEs should work hard and be more innovative to earn the ministry’s financial support.