ICT Sector Outperforms Fastest-Growing Sectors by 16.4%, with 8% Contribution to GDP, during Q2 of FY 2018-2019 - Ministry of Planning

2 February 2019

The ICT sector achieved a growth rate of about 16.4%, the highest at the level of the State's sectors, and its contribution to GDP is about 8%, according to the economic performance indicators for the second quarter of the current fiscal year 2018-2019, announced by the Ministry of Planning, Follow-up and Administrative Reform.

The Minister of Communications and Information Technology Amr Talaat stated that the success of the sector in achieving a positive growth in the economic performance indicators is a result of implementing a number of projects and initiatives.

These projects aim at developing the IT industry, creating an attractive environment for investment and technological innovation and increasing the competitiveness of small companies and startups, while providing them with funding sources through several initiatives. This is addition to the efforts employed to increase exports of IT services through expansion in global markets, as well as implanting the electronics industry, and cooperating with the different sectors of the country to implement the State's strategy that aim to achieve the transition to digital society, and develop a strong and secure communications infrastructure.

Talaat, also, pointed out that the ICT sector possesses human capital. The development of youth capabilities is the main pillar of the Ministry's strategy. He ascertained that these positive indicators are an incentive for the sector's employees to exert more efforts and maintain achieving the desired goals and contributing to achieving socioeconomic development.


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