Egypt's ICT sector contributes to GDP by 5.8% in FY 2023/2024

The number of Egypt's digital innovation centers will be expanded to 32 by 2026, providing a platform for entrepreneurs to thrive and fostering technological innovation, research, and development.

By: Business Today Staff

Tue, Jul. 16, 2024

Egypt's Information and Communication Technology (ICT) sector's contribution to GDP is projected to reach 8% by 2030, up from the current 5.8% in the fiscal year 2023/2024, according to a statement by Minister of Communications and Information Technology (MCIT), Amr Talaat.

The government is committed to empowering the private sector by facilitating partnerships with international players to establish submarine cables, attracting investments in cloud computing and local mobile phone manufacturing, Talaat added.

Talaat pointed to a comprehensive training program that aims to develop a robust ICT workforce, with a target of training 500,000 individuals in the fiscal year 2024/2025, scaling up to 1 million trainees by 2029/2030.

The number of Egypt's digital innovation centers will be expanded to 32 by 2026, providing a platform for entrepreneurs to thrive and fostering technological innovation, research, and development.

He added that the number of specialists in the outsourcing industry is projected to increase from 130,000 in 2023, generating $3.7 billion in digital exports, to 550,000 in 2026, with digital exports reaching $9 billion.

Additionally, the government is committed to expanding broadband coverage across the country, replacing copper networks with fiber optic cables, and increasing the number of mobile towers to 50,000 by 2030.

The digital Egypt platform will be further developed to provide enhanced digital services to citizens, including those living abroad. The Egyptian Post Office network will also be modernized.

The Haya Karima initiative will connect 9.3 million buildings with fiber optic cables, upgrade 1,741 post offices, establish and upgrade 1,981 mobile towers, and promote digital literacy among 500,000 citizens.