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Investments in telecoms sector to double in upcoming phase: Al-Sisi - Daily News Egypt

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Investments in telecoms sector to double in upcoming phase: Al-Sisi

Telecommunications sector's exports worth EGP 12bn to 160 countries, according to the president

President Abdel-Fattah Al-Sisi said the state plans to double its investment in the telecommunications sector during the next phase, at the opening session of the 19th Cairo ICT on Sunday.

The president added, during his opening speech at the conference, that Egypt spends less on this sector compared to other economic sectors, noting that 1,500 young men and women will be trained and provided with promising opportunities inside and outside Egypt.

“The telecommunications industry has contributed by over EGP 52bn to the national economy, which is about 3%, in the past fiscal year,” Al-Sisi said. He added that the sector provides about one million direct and indirect jobs.

Al-Sisi also noted that the sector exports products worth EGP 12bn to 160 countries through more than 200 Egyptian companies.

Egypt is seeking to build a digital society to transform the economy into a knowledge-based economy, Al-Sisi continued. This is through the development of governmental systems and linking the government’s data and private databases together to provide services to all citizens, including those living in rural and remote areas.

Moreover, the government is moving to improve the overall performance, efficiency and transparency of government agencies through legislation to strengthen confidence in electronic transactions and services, he noted. Thus, this would contribute to boosting efficiency and productivity, combating corruption, promoting transparency and social justice, and stimulating digital services.

Al-Sisi announced the launch of two infrastructure initiatives. The first is the electronics design and industry initiative, which aims to encourage the industry in Egypt and increase revenue to $3bn over three years. This is through electronic systems based on innovation and technology companies, and the labour-intensive electronics manufacturing sector.

The second initiative is for technological learning. This initiative aims to train and qualify about 5,000 young Egyptian graduates every year through direct learning, in addition to 11,000 trainees, using mixed learning methods.

The president noted that the state will provide all methods of support to achieve a major breakthrough in the telecommunications sector, thus contributing to maximising the return of this vital sector, whereby several countries where revenues of the sector amount to $12bn per year.

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