ICT sector contributes 5.8% to Egypt’s GDP in FY2023/24

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The information and communications technology (ICT) sector contributed 5.8% to Egypt’s gross domestic product (GDP) in fiscal year (FY) 2023/2024, Minister of Communication and Information Technology Amr Talaat revealed.

The government is targeting to increase the sector’s contribution to GDP to 8% by 2030, Talaat added.

The minister also highlighted the importance of empowering the private sector and attracting further local and foreign investments by forming more international alliances to launch submarine cables and drawn in investments in cloud computing and local mobile phone manufacturing.

He also said that the number of trainees in the sector are set to reach 500,000 during the current FY 2024/2025 and 1 million in FY 2029/2030, compared to 400,000 trainees in FY 2023/2024.

Moreover, he said that plans are in place to expand the Digital Egypt Creativity Centers to 26 in 2024 and 32 in 2026, fostering entrepreneurship and technological innovation.

The number of specialists in the outsourcing industry is planned to increase from 130,000 in 2023 to 550,000 by 2026, with digital exports expected to grow from $3.7 billion to $9 billion, Talaat noted.

The number of mobile towers is set to increase to 50,000 by 2030, as per the minister.

Additionally, the Egypt Digital platform will see an expansion of services, including those for Egyptians abroad, and further development of Egyptian post offices, he pointed out.