The discussions centered on opportunities for attracting investments to the Egyptian market, exploring avenues for joint cooperation, and strengthening partnerships within the communications and information technology sectors.
Engineer Mohamed Shamroukh, CEO of the National Telecom
Regulatory Authority (NTRA), was also present at the meeting.
During the meeting, Dr. Talaat highlighted the key projects
currently underway in the communications and information technology sector.
These projects aim to achieve digital transformation, develop digital
infrastructure, build digital capabilities, support technological innovation,
and foster the growth of the information technology and electronics industry.
Dr. Talaat emphasized the Ministry's commitment to
cultivating an attractive investment environment that fosters business growth.
This is accomplished through the establishment of supportive and stimulating
governance and regulatory frameworks, ensuring a balance between promoting
foreign investments in the Egyptian market and delivering high-quality digital
services that cater to citizens' needs.
He explained that the Ministry's operational approach is
rooted in forging partnerships with the private sector to execute projects and
develop the digital capabilities of citizens.
Furthermore, Dr. Talaat highlighted the Ministry's
dedication to maintaining ongoing communication with the private sector. This
ensures the creation of a favorable environment for increased investment in the
Egyptian market, facilitates understanding their digital talent requirements,
and enables the design of specialized training programs aimed at equipping
young individuals with the skills demanded by these companies.
Dr. Talaat underscored Egypt's numerous advantages,
prominently featuring a robust digital infrastructure and a skilled workforce,
positioning the country as a compelling destination for investment in the
communications and information technology sector. He further noted Egypt's
competitive edge in the outsourcing industry, establishing it as a highly
attractive location for investments in this domain.
He also highlighted the Ministry's initiatives within the
"Decent Life" (Hayah Karima) villages, aimed at enhancing
communication services, expanding internet access, and modernizing post
offices, alongside efforts to promote digital literacy among the villages' residents.
Shameel Joosub, CEO of Vodacom Group, stated the company's
intention to increase its investment volume in the Egyptian market. He
highlighted the significant improvement in the investment climate and the
numerous opportunities available in digital transformation projects and digital
infrastructure development as key factors. He also acknowledged the
government's support for initiatives focused on building digital capabilities
and fostering innovation and entrepreneurship.
Mr. Joosub further mentioned that foreign investors have
commended Vodacom Group's investments in the Egyptian market through Vodafone
Egypt. This, he noted, reflects the company's leading position within the
telecommunications sector and its dedication to delivering advanced solutions
that effectively address the needs of the local market.
Mohamed Abdullah, CEO and Managing Director of Vodafone
Egypt, affirmed the company's active role in attracting major companies and
investment funds to inject new investments into Egypt. This is achieved through
contributions to the development of technological infrastructure, the
implementation of digital transformation projects aimed at improving the
business environment, and the promotion of joint investment opportunities with
major companies. He emphasized that these efforts positively impact the growth
of foreign direct investment and increase the communications sector's
contribution to the gross domestic product.
The South African investment delegation lauded the
noticeable improvement in Egypt's investment climate and expressed its
intention to promptly initiate steps for investment in the local market,
particularly in the areas of data centers and cybersecurity.
It is important to note that the Public Investment
Corporation (PIC) is an asset management company wholly owned by the government
of the Republic of South Africa. It is recognized as one of the world's leading
and most successful asset management institutions, the largest in Africa,
managing a diverse investment portfolio across the African continent and
beyond.
The meeting was attended by members of the Board of Trustees and the Board of Directors of the Government Pensions Fund of South Africa, several leaders from the Public Investment Corporation of South Africa, and representatives from Vodacom Group and Vodafone Egypt.