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Egypt to receive more investments from six world information technology magnates

Tuesday 03 July 2018 09:30 PM


By Mahmoud Gamal
Six world information technology magnates are poised to inject more investments into the Egyptian local market through expanding their own headquarters & operations, founding excellence centers and driving up workers, according to an informed source at the  Information Technology Industry Development Agency.
The moguls are expected to be based in the U.S, Germany and France and to work in the fields of  developing & testing programs, outsourcing communication centers, computerization & technical support services as well as in medical solutions, sales, consultations and quality assurance.   
According to a statement released by Ministry of Communication a few days ago, Minister Amro Talaat prioritizes developing the sector through upping foreign investments, attracting world companies, incentivizing companies, increasing digital exports, upgrading mass services, boosting technology innovations among the youth, and completing a state-adopted computerization scheme.
Egypt's Communication sector posted 14% growth rate during the first quarter of 2017/2018, of which  communications sector contributed 9.5% rate and information technology 4.5%, according to date released by Ministry of Planning.
Ministry of Communications predicted technological exports to increase to USD3bn in 2020 up from USD1.8bn.