By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
    EFG Hermes records EGP 11bn revenue in FY22
    EFG Hermes records EGP 11bn revenue in FY22
    March 23, 2023
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    March 23, 2023
    IFC partners with Egypt’s CIB in managing climate risk, boosting sustainability
    IFC partners with Egypt’s CIB in managing climate risk, boosting sustainability
    March 23, 2023
    MSMEDA implements comprehensive strategy for digital transformation: Rahmi
    MSMEDA implements comprehensive strategy for digital transformation: Rahmi
    March 23, 2023
  • Politics
    PoliticsShow More
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt to establish 7 technological parks with EGP 1bn investments: ICT Minister
Share
Notification
Latest News
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
EFG Hermes records EGP 11bn revenue in FY22
EFG Hermes records EGP 11bn revenue in FY22
Business
Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
Business
IFC partners with Egypt’s CIB in managing climate risk, boosting sustainability
IFC partners with Egypt’s CIB in managing climate risk, boosting sustainability
Banking
MSMEDA implements comprehensive strategy for digital transformation: Rahmi
MSMEDA implements comprehensive strategy for digital transformation: Rahmi
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt to establish 7 technological parks with EGP 1bn investments: ICT Minister
Business

Egypt to establish 7 technological parks with EGP 1bn investments: ICT Minister

Shaimaa Al-Aees
Last updated: 2019/09/10 at 5:48 PM
By Shaimaa Al-Aees 3 Min Read
Share
????????????????????????????????????
SHARE

Minister of Communications and Information Technology, Amr Talaat, told Daily News Egypt that seven technological parks will be launched in 2019 in different universities at a total cost of EGP 1bn.

During the Euromoney Egypt 2019 conference on Monday, Talaat revealed that the parks will be financed through the ministry’s resources in parallel with the beginning of the new academic year.

Talaat said that the ministry is ready to contribute to the fintech fund, which the Central Bank of Egypt (CBE) plans to launch next year if the latter requests it.

Talaat told Daily News Egypt that the CBE aims to launch a fund to support fintech startups early next year with a capital of $50-100m.

Egypt has exerted more efforts in improving information and communication technologies (ICT) and digitalisation. 

Egypt’s ICT sector recorded 16% growth in fiscal year (FY) 2018/19, he revealed, explaining that the country’s CT exports reached $2.6bn in one year.

 

 The ICT sector stood at 3.2% of Egypt’s GDP during the previous FY, and the target is to reach 4% of GDP this year, the minister noted.

 He also pointed out that there remains much to be done but Egypt is heading in the right direction.

 The minister revealed that the ministry intends to increase the ICT contribution in the GDP to reach 8%.

 Furthermore, he noted that digital infrastructure is the cornerstone of Egypt’s digital transformation strategy. Egypt aims to increase investments in its ICT sector.

 Additionally, he said that Egypt previously had an extremely weak digital infrastructure but now it is improving, adding “We have been working on developing smartphones and mobile services as it initiates digitalisation. We plan to expand internet penetration to reach 65% in the coming year compared to 60% in the current year,” Talaat disclosed.

 Moreover, human resources are one of the important pillars that we pay great interest in developing and qualifying through collaboration with other neighbouring countries, according to Talaat.

 

 “Egypt has trained 10,000 young African people on ICT skills and then co-started new company,” he disclosed. 

 Over and above, the ministry is working on developing a comprehensive legislation system and framework to regulate the ICT sector, through issuing some important laws, namely an e-commerce bill and a personal data protection law, he highlighted.

 Talaat commented that cooperation with the private sector in the ICT sector is essential, as all digital systems and projects have been executed by the private sector, whether with international or national companies. 

 Additionally, he stressed that Egypt aims to be an ICT regional leader, accordingly the ministry is working with other international companies in the field of artificial intelligence.

You Might Also Like

Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023

EFG Hermes records EGP 11bn revenue in FY22

Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 

IFC partners with Egypt’s CIB in managing climate risk, boosting sustainability

MSMEDA implements comprehensive strategy for digital transformation: Rahmi

TAGGED: Amr Talaat, Minister of Communications and Information Technology, technological parks
Share this Article
Facebook Twitter Email Print
Previous Article Egypt’s tax policy to remain stable with no future changes: Finance Minister
Next Article Financial evaluation for e-finance listing to be completed in October: Sarhan
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
EFG Hermes records EGP 11bn revenue in FY22
EFG Hermes records EGP 11bn revenue in FY22
Business
Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
Business
IFC partners with Egypt’s CIB in managing climate risk, boosting sustainability
IFC partners with Egypt’s CIB in managing climate risk, boosting sustainability
Banking
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?