(2 minutes read)
· US investments in the ICT sector in Egypt rose by 35 percent in 2020, according to U.S. Ambassador to Cairo Jonathan Cohen. He was speaking at an AmCham event recently virtually
· Cohen elaborated that start-ups alone collected US$100 million in the sectors of mobile payments, e-commerce, FinTech, and healthcare technology
US investments in the ICT sector in Egypt rose by 35 percent in 2020, according to U.S. Ambassador to Cairo Jonathan Cohen. He was speaking at an AmCham event recently virtually.
Cohen elaborated that start-ups alone collected US$100 million in the sectors of mobile payments, e-commerce, FinTech, and healthcare technology. He pointed out that the ICT sector has been growing the most in the country recording a rise of 17 percent annually in the past years.
Egypt is blessed with a strategic location that qualifies it to be a regional hub for data centers in Africa and the Middle East. This segment of industry is poised to grow significantly over the next few years, the ambassador underlined.
Egypt connects tAfrica, the Middle East, Asia and Europe, and its connectivity to 18 main global submarine cable systems. Egypt is also rich in human resources with diverse and growing talents.
