At FDC Summit, we believe in importance of shared ideas, their role in maximising efficiency of specialized events.
The size of the information security technology industry reached LE15b during 2023.
Research centres are an essential partner in the development of the cybersecurity industry.
At his remarkable interview, Engineer Tarek Shabaka, Chief Executive officer at Mideast Communication Systems (MCS) โ discussed the rapid growth of Egypt’s information security industry and FDC Summit’s objective for a digitally-secured society.
First, we would like to talk about the features of the FDC Summit in its sixthย edition?
The sixthย edition of the FDC Summit, which is being held this month, is a different edition by all standards. The most significant difference is that the summit today has transformed from just an annual conference that includes an elite group of specialists and those interested in the field of digital transformation, data center industry and cybersecurity, to a real platform for the industry with strategic dimensions and objectives.
This platform provides the opportunity for all parties in the field to learn about modern global trends and exchange experiences. Moreover, it sends a message of confidence in the Egyptian investment environment to international companies and international bodies through the level of attendance of representatives of the private sector, decision makers, and experts from all sectors of the Country, technical workshops, different specialized activities, in addition to the quality of the discussion sessions and closed sessions that adopt many pivotal recommendations for the future of this industry.
You announced that the sixth edition is considered an exceptional joint edition after it was organized under the umbrella of ๐๐ ๐ฒ๐ฉ๐ญ ๐๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ฎ๐ฆ๐ฆ๐ข๐ญ ๐๐จ๐ซ ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐ซ๐๐ง๐ฌ๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐ฒ๐๐๐ซ๐ฌ๐๐๐ฎ๐ซ๐ข๐ญ๐ฒ (EISDTC). What are the reasons for this cooperation?
We believe in the importance of shared ideas and their role in maximizing the efficiency of events. In addition, the integration between two events under a national umbrella will reflect on strengthening the position of this sector in general and Egyptโs regional position on the global map of specialized events, and will contribute to providing adequate and comprehensive content for visitors and participants.
It will also highlight the importance of digital transformation and the role of cybersecurity solutions and applications in protecting data and information, which has today become one of the country’s basic pillars in the development process.
What are your future steps to develop and enhance the role of the FDC Summit in the digital transformation and cybersecurity industry?
We have already taken executive steps towards developing this event as a major platform in developing the industry and creating a competitive advantage that is reflected in Egyptโs regional position. We formed an advisory council that includes an elite group of experts and representatives of civil society organizations to shape the future of this event for the regional presence.
Moreover, we aim to consolidate the event role in coming up with clear strategic and technical recommendations that contribute to advancing industry development and achieving the goals of Egypt Vision 2030.
We want to hear from you about the size of the cybersecurity industry in the Egyptian market?
The cybersecurity industry in Egypt has witnessed remarkable growth recently, accompanied by a state of clear awareness among the various major sectors in the Country and economic entities in its various categories. Therefore, we estimate the size of the information security technology industry at approximately 15 billion Egyptian pounds by the end of the past year 2023.
We also expect clear growth rates in this number during the coming period approaching 30% annually, especially with the strong mobilization witnessed in all fields towards digital transformation and the usage of digital economy systems.
What about community awareness? Do you see the importance of integrating various groups of society into the process of education and knowledge on cybersecurity risks?
In fact, raising the awareness of society in its various classes is an inherent right. It is an integral part of protecting all parties from the dangers of electronic attacks, ransomware, phishing, etc.
From this standpoint, we at the Mideast Communication Systems (MCS) adopt a clear vision that we have begun to implement since the beginning of 2023 on the importance of raising awareness among non-specialist cadres in various major bodies and ministries in the Country, such as the Information and Decision Support Center, the Ministry of Higher Education and Scientific Research, the Ministry of Health, and other entities and bodies that will be announced during the coming period.
We aim at qualifying government staff to safely deal with digital transformation data, learning about their duties and legal rights in this regard, and supporting the institution wherein they work by following the best practices in dealing with the digital revolution.
In your opinion, which sectors are most targeted by electronic attacks and exposed to digital threats?
The banking sector is undoubtedly the most targeted sector, followed by the petroleum sector, government agencies, and then the health system. However, we would like to point out that these sectors have become aware of the importance of constantly keeping up with successive changes.
They have also become possessing strategic visions and awareness that greatly qualify them for continuously monitoring, following-up and evaluating to reduce challenges resulting from digital risks.
We move on to talk about the legal and legislative frameworks to regulate this industry. In your opinion, are they sufficient or do they require more efforts?
The pace of the information technology industry in general and cybersecurity in particular is very rapid and changing, and despite our clear efforts in Egypt to regulate the industry and determine the necessary legal and legislative frameworks to protect all its parties.
We need to continue in existing these tireless efforts to keep pace with developments with executive flexibility that is compatible with the changes of this kind of modern technology.
If we talk about the concept of localizing the cybersecurity industry in Egypt, in your opinion, what is required in this regard?
There is no doubt that this step has become an urgent necessity at the present time, especially since it complements the great efforts made by the Egyptian government and the private sector to emphasize the importance of cybersecurity and its impact on the economic and development system.
Therefore, we need a real Egyptian plan for direct investment in this industry under the umbrella of a national strategy adopted by the Egyptian government, based on consolidation of efforts between all parties of the system, such as the National Telecom Regulatory Authority (NTRA), the Supreme Council for Cybersecurity, the Information Technology Industry Development Agency (ITIDA), research centers, telecommunications companies, and international institutions.
We also need to define a clear mechanism with a well-studied time plan based on the localization of the industry on stages. We cannot forget the major role of the specialized human cadre in this regard, as this vision requires distinguished technical capabilities capable of developing, competing, and keeping pace with the international trends.
What are the features of this plan from your point of view?
In my opinion, this plan must be based on two main axes; the first is a short-term plan that includes the state investing, through an Egyptian investment fund, in specialized companies that have ambitious plans for growth and a low market valuation, provided that the fund owns a controlling stake, in addition to maximizing the role of research centers and supporting services with real added value.
The second axis is a long-term plan, which is to unify purchasing efforts for cybersecurity solutions and applications from companies that have been invested in by the Egyptian Investment Fund.
