4 September 2022
ICT Sector Achieves Highest Growth Rate of 16.3% for Fourth Year in Row


The ICT sector has achieved the highest growth rate of about 16.3% among different state sectors during the fiscal year (FY) 2021/2022, according to a report issued by the Ministry of Planning and Economic Development on performance indicators of the Egyptian economy during FY 2021/2022.
 
The report also highlighted that the ICT sector has become first in terms of the number and value of deals, within the framework of the activity of acquisition and merger in the Middle East and North Africa (MENA) during the first half of 2022.
 
The Minister of Communications and Information Technology Amr Talaat has underlined that the ICT sector has achieved high-performance rates economically and retained its position in the forefront as the highest-growing sector over the past four fiscal years. He pointed out that the sector’s growth rate rose during the past fiscal year, achieving 16.1% in FY 2020/2021, compared to 15.2% in 2019/2020.
 
Talaat explained that the steady increase in the growth rates of the ICT sector reflects its development, in light of the implementation of Digital Egypt strategy. The strategy includes the implementation of numerous national projects to achieve digital transformation and upgrade the digital infrastructure at the national and international levels. This is in addition to fostering innovation and entrepreneurship, building youth’s digital capabilities, and empowering them to obtain distinguished ICT job opportunities.
 
Talaat stated that several reports by reputable organizations highlighted these developments and breakthroughs in the sector, in light of the efforts made to enhance Egypt’s position on the global map of the ICT industry
 
The ICT Minister added that the development of the ICT sector reflects the concerted efforts of the whole ICT sector, which features effective and constructive partnerships among the public and private sectors and civil society organizations. These partnerships resulted in implementing many ICT projects that support the state’s efforts to achieve digital transformation and build Digital Egypt.
 
The ICT Minister declared that the ICT sector’s success represents a motive for its employees to intensify their efforts to maintain this position in the coming years.

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