Egypt's Minister of Telecommunications and Information Technology Amr Talaat said that the telecommunications sector's contribution to Egypt's GDP rose to over 5 % in FY2022/2023, slightly higher than the level seen in FY2021/2022.
According to the Information and Decision Support Centre (IDSC), Talaat said $2 billion has been invested to upgrade internet services in Egypt, bringing the fixed internet speed to 47 megabits per second (Mbps) in 2023 from 5.6 Mbps in 2019.
The minister also mentioned that Egypt invested EGP 50 billion in digital transformation projects.
He further noted that Egypt inked 29 agreements in 2022, with international companies, including IBM, Amazon, Microsoft, and Dell Technologies to build outsourcing centers in the country, which was expected to add $1 billion to Egypt's digital exports by 2025 and create more than 34,000 opportunities.
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