Minister of Communications and Information Technology Amr Talaat has inaugurated the activities of the fourth session of the Tech Invest 4 conference, which is organized by the Digital Economy and Technology General Division.
Hazem Nabil, Vice President of the IT Industry Development Agency (ITIDA) for Electronic Transactions Security, said that the “Tech Invest 4” conference is a good opportunity for emerging companies to shed light on competition mechanisms globally, especially that Egypt has a population of more than 100 million people, among them are individuals with high competencies.
Nabil said that ITIDA always seeks to encourage investment in the technology sector through several axes. These axes include stimulating creativity and entrepreneurship. They have been translated into the volume of investments it attracted during the past year, with a value close $500bn.
He pointed out that the agency has developed a strategy with Deloitte International Consulting to increase the size of the industry threefold during the next stage.
He added that the second axis of ITIDA’s strategy is based on attracting international companies to the local market. It aims to employ 215,000 young people within five years. He also pointed out that the electronic signature file that the agency is working on is one of the pillars of digital transformation in Egypt.
Khalil Hassan Khalil, Chairperson of Digital Economy and Technology General Division at the Federation of Chambers of Commerce, said that the Fourth Conference on Investment in Information Technology affirms the importance of technology in all aspects of life. He explained that the partnership with the Ministry of Communications began in 2001 through a package of various initiatives.
Khalil stressed that companies are currently dealing with multiple crises with the pressure of inflation and the dollar exchange rate limiting the sector’s growth. He noted that a committee must be formed to address that issue.