The report also noted these actions reflect the progress in Egypt’s digital transformation strategy
As Egypt’s fastest growing sector over the last 2 years, the Information and Communications Technology sector’s (ICT) contribution to the country’s GDP grew from 3.2% in FY 2019/2020 to 5% in the current fiscal year (FY2021/2022), revealed Minister of Information and Communications technology Amr Talaat.
During the launch of the World Bank’s (WB) Egypt Economic Monitor 2021 report, Minister Talaat stated that the ministry is aiming to raise its contribution to 8% in the coming 3 years.
Showing the Digital Egypt” project, which displays the government strategy for digital transformation, Talaat explained the project’s pillars; cultivating digital skills, fostering digital innovation, and spearheading transformation.
“Building human capacity is a key cornerstone for Digital Egypt project. The University of Informatics is one of our main projects that works in this regard with a total cost of EGP 4 billion. The university is expected to work with its full capacity within a couple of years,” the minister explained.
Around 96% of data transferred from Asia to Europe passes through Egypt through fiber optics, Talaat revealed. Egypt is an internet submarine cable hub, with 17 cables transiting through the country.
Learn more about Egypt’s position as a data hub powerhouse > Egypt is on its way to becoming a Data Hub
The World Bank opted to highlight digital transformation in its Egypt’s Economic Monitor 2021
According to the report, investments in telecommunications infrastructure, automation of key government services and procedures, as well as the launch of digital government platforms have placed Egypt at a relatively elevated level of digital government transformation.
The report also noted these actions reflect the progress in Egypt’s digital transformation strategy.
Marina Wes, the World Bank Country Director for Egypt, Yemen and Djibouti, emphasized the bank’s commitment to support Egypt, particularly in human development, through lending policies and technical support.
Currently the WB’s portfolio in Egypt notes 15 operations with a total value worth $5.5 billion, pointing out that the bank and Egypt’s government are working currently on drafting on the country strategy framework for the coming five years, which supports the country’s reforms.
Wes also affirmed that Egypt’s economy continues to show resilience against the pandemic under the country’s reform program, highlighting the country progress in the digital transformation sector with emphasis on the Digital Egypt strategy.
