The Ministry of Communications and Information Technology (MCIT) participated in the 17th Session of the “People and Banks” Conference, organized by Arab Media Group on October 25, under the theme “The Road to Sustainability and the Green Economy.”
Several ministers, a group of banking leaders, chairmen of Egyptian banks, economic experts, many businessmen, and leaders of major Egyptian companies participated in the Conference.
The Conference tackled different current economic issues, most notably sustainable and green financing and the digital transformation of banking and financial services. It also discussed the future of small and medium-sized enterprises (SMEs), the governmental and banking efforts to support the local industry, and the role of Artificial Intelligence (AI) in improving banking services.
The Deputy ICT Minister for Institutional Development delivered a speech at the Conference, highlighting the significance of the ICT sector, which has become one of the main pillars of sustainable and economic development. She noted that the ICT sector has achieved the highest growth rate of about 16.3% among different state sectors and has contributed to about 5% of the gross domestic product (GDP), making it an effective sector in the Egyptian economy.
The Deputy ICT Minister declared that the digital economy depends mainly on ICT as a major driver of global economic growth, with the World Bank estimating its contribution to over 15% of global GDP. She added that enhancing financial and digital inclusion are strategic objectives of MCIT, which aim to increase exports, develop local demand, and create more decent job opportunities to support the digital economy.
It is worth noting that Digital Egypt strategy was launched in 2018 to create a safe, productive, and sustainable interactive digital society, based on three main pillars: digital transformation, digital and professional upskilling, and digital innovation. Furthermore, MCIT is creating an ecosystem that boosts digital innovation and entrepreneurship, in cooperation with state institutions, to achieve a robust digital economy.
MCIT has raised digital awareness of and upskilled 982,387 citizens digitally, in the implementation of digital literacy promotion and within the framework of MCIT projects to support citizens’ digital and financial inclusion. Furthermore, MCIT has implemented the Decent Life initiative aimed at increasing the digital awareness of citizens in the targeted villages and developing their digital skills. Around 76,684 citizens benefited from the initiative in the villages targeted within the first phase of the initiative in 20 Governorate nationwide.
