We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by closing this message box or continuing to use our site. To find out more, including how to change your settings, see our Cookie Policy

Digital services exports hit $4.9B in FY2021/2022 | MCITMin

Egypt’s information and communications technology (ICT) sector saw a growth rate of 16.7% in FY 2021/2022, MCIT minister Talaat added

By: Business Today Egypt

Wed, Jul. 27, 2022

Egypt’s digital services exports recorded $4.9 billion in the previous fiscal year (FY 2021/2022), revealed Minister of Communications and Information Technology (MCIT) Amr Talaat yesterday, adding that that Egypt was steadily progressing towards achieving comprehensive development and building "Digital Egypt."

Egypt’s information and communications technology (ICT) sector saw a growth rate of 16.7% in FY 2021/2022, Talaat added.

The local startup scene also saw positive gains, with Egyptian start-ups attracting $490 million in foreign investments in 2021 compared to $190 million in 2020, with the minister stating that Egypt is looking to boost foreign investments to $850 million by the end of the current fiscal year.

Talaat added that the country is aiming to achieve sustainable development through digitization, providing highly efficient and stable communications services, and providing digital job opportunities for youths.

It is also paying close attention to the country’s digital transformation, seeking to digitize all government services countrywide as part of its 2030 Vision.

As part of the strategy, Egyptian President Abdel-Fattah El-Sisi inaugurated the Digital Egypt Platform, which comprises over 130 e-services.

Egypt has also carried out a handful of digital transformation-related ventures with an overall investment value of EGP 15 billion, the minister added.

On network services, Egypt has invested about EGP 40 billion to raise the efficiency of internet services, and has increased the rate of cellular tower installations, noting that 2,300 towers were built in 2021 with the aim to reach 2,800 towers by the end of 2022.