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    ICT Minister, Cisco Head Discuss Promoting US Investments

    USA, 14 March 2017

    The Minister of Communications and Information Technology Yasser ElKady has held a number of meetings with major international ICT companies based in Silicon Valley—during the official mission to the United States of America—to promote investments in the ICT areas, and develop Egypt-US strategic cooperation.

    The Egyptian flag was raised in Silicon Valley to welcome the official delegation headed by the ICT Minister who met with Cisco Executive Chairman John Chambers, where they discussed a number of topics including future partnerships and business. At the end of the meeting, ElKady extended an invitation to Chambers to visit Egypt which was gladly accepted.

    The ICT Minister also met with Cisco executive working group, headed by Cisco Government Affairs Senior Director Pastora Valero, where a presentation of the company's products of connected digital platforms, smart cities technological solutions, the company’s vision and strategy in terms of business models, telecommunications service providers, developers network program in disciplines such as the internet of things (IoT) techniques and connected smart societies was showcased.

    Additionally, the meeting featured IoT integrated platforms through which control and operations centers can benefit to track and manage the infrastructure, thereby improving the operational efficiency of networks and systems and enabling decision makers to benefit from the big data analyses in making critical business decisions. The meeting was attended by the Information Technology Industry Development Agency (ITIDA) CEO Asmaa Hosni and Telecom Egypt (TE) CEO and Managing Director Tamer Gadallah.

    Moreover, ElKady met with Powell Lodiasena the chairman of AT Kearney— a global consultations company— in the presence of Hosni, and senior officials of the Ministry of Communications and Information Technology (MCIT) and ITIDA.

    During the meeting, the ICT Minister highlighted the significance of indicators issued by international institutions, and the importance of including growth rates of every state sector in them which, in turn, contributes positively in serving the investment climate in Egypt.

    The Minister talked about the growth of the ICT sector, reaching a positive 11.2%, allowing the sector to rank first in growth rates among the other state sectors during the first quarter of the current fiscal year. This growth is due to a number of mega projects on top of which is the technology parks that aim to promote technology across Egypt. Efforts exerted to create an appropriate climate to attract investments in the country is another factor that helped the development of the sector.

    The meeting also touched on the achievements of the electronics design and manufacturing initiative, currently being implemented to turn Egypt into a regional hub, and increase exports of local companies. This is in addition to providing new jobs for young people in line with the various programs aiming to invest in human calibers in advanced technology fields.

    Furthermore, ElKady said that a large number of regional and international companies pay due attention to the Egyptian ICT sector indicators. He also added that the manufacturing of the first local mobile phone is expected within the second half of the year.

    The meeting tackled discussions of other topics, including the evolution of the outsourcing industry in Egypt—which ranked fourth globally, means to support Egypt's position on the global map for the IT industry and US and international investments in the Egyptian market.

    For his part, AT Kearney chairman said that Egypt is a big and promising market with great investment opportunities, especially in light of the positive atmosphere of the Egyptian economy in the wake of recent reform measures, exchange rate liberalization, profit operations and other positive indicators.

    Related Photo Gallery

    Related Publications
    Egypt Ministerial Mission to the United States of America Brochure
    Mar 2017
    Egypt Ministerial Mission to the United States of America brochure provides an overview about the suitable investment climate Egypt offers—particularly in the ICT field—highlighting the advantages that the country possesses. A message from the ICT Minister, along with bios of the official delegation travelling to the US, is included.

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