Dr. Amr Talaat, Egypt's Minister of Communications and Information Technology, recently engaged in a series of high-level meetings in Dubai, United Arab Emirates, aimed at fostering cooperation and investment in Egypt's communications and information technology sector. This initiative coincided with his participation in the "Machines Can See 2025" forum, a prominent event focused on advancements in artificial intelligence.
During his visit, Talaat met with several key figures, including the CEO of Honor for the Middle East and North Africa, to discuss the company's plans to manufacture mobile phones in Egypt in partnership with a local firm. Honor, a Chinese company known for its smartphones and electronic devices, has been exploring opportunities to establish a manufacturing base in Egypt, a move that could significantly boost local employment and technological capabilities.
In addition to discussions with Honor, Talaat also met with Daniel Benesito, Deputy CEO and President of Global Markets at Atos, a French leader in digital transformation. The dialogue focused on Atos's expansion plans in Egypt, highlighting the company's commitment to increasing its footprint in the region, as evidenced by the presence of Rama Al-Sufi, General Manager of Atos Egypt, at the meeting.
Furthermore, Talaat's agenda included meetings with officials from Nokia, where he presented Egypt's competitive advantages as an attractive destination for investments in manufacturing and technology. He emphasized the country's strategic location, advanced digital infrastructure, and a young, qualified workforce as key factors that make Egypt appealing to international investors.
Key discussions also took place with Mohamed Al-Jayash, CEO of Abu Dhabi Commercial Bank, focusing on potential investments in the manufacturing sector. The bank's interest lies in establishing contact centers that would enhance customer service and streamline operations across its various services.
Moreover, Talaat explored opportunities with Ayman Abdel Razek, CEO of Operations and Head of Human Resources at Abu Dhabi Commercial Bank - Egypt. They discussed the possibility of expanding the bank's operations in Egypt through the establishment of additional contact centers aimed at improving customer service and delivering effective information technology solutions.
In another significant meeting, Talaat met with Mark Edwards, Deputy CEO and Head of Operations at Mashreq Group. This meeting shed light on the group's plans for expansion, particularly in light of a cooperation agreement signed in February 2024 between the Telecommunications Regulatory Authority (ITDA) and Mashreq International Network. This agreement aims to enhance the services offered by Mashreq's operations center in Egypt and facilitate further growth.
On a broader scale, the discussions in Dubai reflect a growing trend of international investment in Egypt's technology sector. Recent reports indicate that Chinese investments in Egypt have reached approximately $9 billion by the end of the fiscal year 2023/2024, with trade volume between the two countries hitting $17.4 billion, marking a 10% growth rate.
Chinese Ambassador to Cairo, Liao Liqiang, highlighted these figures during his speech at the "Cairo Forum: Chinese Vision and the World," emphasizing China's role as Egypt's largest trading partner and its commitment to supporting industrial development in the country.
Liao noted that over 2,000 Chinese-funded companies are currently operating in Egypt, which underscores the significant impact of Chinese investments on the local economy. He also mentioned the establishment of several Chinese projects in Egypt, facilitated by the use of loans in Chinese currency for the first time in the economic cooperation area between the two nations, particularly in the Teda-Egypt zone.
Furthermore, Liao pointed out the momentum gained in Chinese-Arab cooperation, particularly in the context of the Belt and Road Initiative, which aims to enhance connectivity and economic collaboration across regions. He expressed optimism about the future of this partnership, stating that China is eager to support the establishment of a joint future community with Egypt and other Arab nations, focusing on mutual development.
In terms of economic performance, Liao reported that China's economy grew by 5% in the previous fiscal year, contributing significantly to global economic growth. He emphasized that China aims to maintain its position as a key player in the global economy, having signed 23 free trade agreements with various countries and regions.
As Egypt continues to strengthen its ties with international partners, the recent meetings in Dubai represent a crucial step toward enhancing the country's technological landscape and attracting foreign investments. The collaborative efforts between Egyptian officials and global companies are expected to yield significant benefits for the local economy, positioning Egypt as a competitive player in the global technology market.
In summary, the dialogues held by Dr. Amr Talaat in Dubai not only showcased Egypt's potential as a hub for technology and communications but also highlighted the ongoing collaboration between Egypt and major international players, particularly from China. This partnership is poised to drive growth and innovation in the Egyptian market, ultimately benefiting its economy and workforce.
