Egypt to launch EGTAP.com online platform to train tourism workforce: minister    Singapore's economy grows in Q2 '25    Gold prices dip slightly on Monday trading    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    EU prepared to retaliate with €21b tariff package – Italy's FM    Al-Sisi reaffirms Egypt's commitment to African security, development at AU Mid-Year Summit    Dozens of Palestinians killed by Israeli fire near Gaza aid site    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt's Contact insurance arms, Germany's GIZ partner on SMEs, gender equity    Egypt and Italy mark 50 years of science partnership, discuss future cooperation    Egypt establishes Real Estate Market Regulation Unit to oversee sector transparency    Egypt's Health Min. discusses drug localisation with Sandoz    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Egypt's EDA, Haleon discuss local market support    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt ranks first in MENA for innovation, entrepreneur deals – minister
Published in Amwal Al Ghad on 17 - 06 - 2020

Egypt ranks first in the Middle East and North Africa in terms of the number of deals regarding innovation and entrepreneurship in 2019 and 2020, and is ranked second in the region for investment size, said Communications and Information Technology Minister on Tuesday.
Amr Talaat made these remarks at a virtual meeting organised by the American Chamber of Commerce (AmCham) in Egypt, and attended by Ahram Online.
There were 113 investment deals in 2018, 142 in 2019, and 40 during the first quarter of 2020, he added.
The Egyptian minister said the size of investment in the sector surged to $107 million in the first quarter of 2020, up from $95 million in 2019 and $84 million in 2018.
The minister said the coronavirus pandemic had been a blessing for the ICT sector and for innovation and entrepreneurship, as businesses have shifted to working from home, creating new challenges that need innovative solutions.
Talaat said that the delivery and transport sector had attracted the largest investment value in 2019 with 47 percent, followed by advertising and marketing with 13 percent and e-commerce with 11 percent.
He said that there had been an increasing use of online solutions and apps amid the quarantine, with mobile internet usage increasing by 35 percent, fixed internet by 99 percent, a doubling of peak hours to 15 hours, and international calls increasing 19 percent.
The Zoom app had the lion's share in terms of increased usage with an increase of 3,465 percent, while Telegram was up 1,100 percent and YouTube 115 percent.
Speaking about the ministry's Digital Egypt Project, which, in light of Egypt's plans for a digital transformation, aims to provide all government entities with fibre-optic cable connections, Talaat said the work had been completed in 5,300 government buildings nationwide so far, with a total cost of 6 billion pounds.
Regarding training provision, Talaat said that the ministry has adopted Egypt's Future Work in Digital initiative with a market size of $380 million, and targeted to reach $580 million.
He also noted that six planned tech hubs in public universities outside Cairo and Alexandria will start operations soon, seeking to boost entrepreneurship, innovation and start-ups.
"Within a few weeks all procedures of obtaining licences or renewing them, and all public notaries, will be carried out digitally through call centres using the one-time password system (OTP)," Talaat said.
He added that the ministry is working to ensure that SMEs have a fair share in the market and the ministry has launched an online platform in order to provide training courses for them, allocating 100 million pounds for the first phase.


Clic here to read the story from its source.