Egypt's ministry of planning and economic development plans to raise the contribution of the telecommunication and information technology sector in the state’s gross domestic product (GDP) to 5% by 2025, from an expected target of 2.6% for fiscal year (FY) 2020/2021, minister of planning and economic development Hala El-Said has revealed, according to state news reports.
The ministry aims at boosting the sector’s export capacity of telecom and outsourcing services to reach $6 billion by 2025, against an estimated target of $3.5 billion for FY 2021/2022, El-Said added.
The share of Egypt’s technological exports out of total commodity exports are targeted to reach 5% by 2025, compared to the current share that does not exceed 2.5%, she noted.
Investments in the Egyptian telecommunication and information technology sector during FY 2021/2022 are estimated at around EGP 60 billion, the minister was quoted as saying.
Additionally, the government seeks to boost electronic exports to about $3.5 billion during FY 2021/2022 as well as continuing the second phase of the internet development plan that began in the second half (H2) of 2020 at a cost of EGP 300 million.
Primary development programs targeted in the sector for the 21/2022 plan are the Transformation to Digital Society Program, the Technology Skills Development Program, the Communications Infrastructure Development Program, the Electronics Design, and Manufacturing Program, and the Information Security and Electronic Signature Development Program.