The Information Technology Industry Development Agency (ITIDA) has participated in the “Egypt: Your Hub for IT Services” webinar, organised by the US-Egypt Business Council, the Embassy of Egypt in Washington, in collaboration with the American Chamber of Commerce in Egypt (AmCham).
The webinar aims to encourage and support foreign and US investors seeking to enhance their global presence and leverage Egypt as a global hub for IT/ITES and technology innovation.
The webinar was attended by Mr. Motaz Zahran, Ambassador of Egypt to the United States, Mr Steve Lutes, Executive Director of the US-Egypt Business Council, Engineer Amr Mahfouz, ITIDA’s CEO, Mr Hisham Fahmy, CEO of the AmCham Egypt and representatives of several major Multinational companies.
Egypt’s ICT sector has recently recorded remarkable economic indicators; the sector is expected to achieve a growth rate amounting to 16% during the current fiscal year. The value of the sector’s domestic product increased from LE93.5 billion to LE107.7 billion, during the last fiscal year, with a contribution of 4.4% to the GDP. Furthermore, the value of digital exports improved from $3.6 billion to $4.1 billion.
Motaz Zahran, ambassador of Egypt to the United States said that “Egypt is undergoing major digital transformation, much of which could be attributed to its regional leadership, connectivity and digital literacy”. He noted: “Egypt’s commitment to building the ICT sector is part of the broader Digital Egypt initiative, which adheres to three key pillars, namely, digital transformation, digital skills and jobs, and digital innovation”.
He further noted that on the legislative and regulatory side, the Egyptian government has made legal reforms to in consumer protection, intellectual property, personal data protection and digital signature.
For his part and during his introductory remarks, ITIDA’s CEO Amr Mahfouz said that Egypt’s ICT sector is witnessing great development, where a large number of national-scale initiatives and projects are being implemented to enhance Egypt’s position on the global ICT industry map.
